June 27 (Reuters) - BJ’s Wholesale Club Holdings Inc’s initial public offering was priced at $17 per share, according to a person familiar with the matter, the upper end of an indicative $15-$17 range.
The company sold 37.5 million shares, raising net proceeds of $637.5 million. At 126.3 million shares outstanding, the wholesale retailer is valued at $2.15 billion.
BJ’s Wholesale, which had over five million paid members at the end of February, was taken private in 2011 for $2.8 billion by private equity firms Leonard Green & Partners LP and CVC Capital.
The company competes with Costco and Walmart’s wholesale unit, Sam’s Club, and operates in 16 states in the United States.
Bank of America, Deutsche Bank, Goldman Sachs and J.P. Morgan are leading a 14-firm underwriting syndicate for the IPO.
Additional reporting By Aparajita Saxena in Bengaluru; Editing by Sriraj Kalluvila