March 18, 2013 / 10:36 AM / 7 years ago

Safeway's Blackhawk gift card unit files for IPO of up to $200 mln

March 18 (Reuters) - Blackhawk Network Holdings Inc, grocer Safeway Inc’s gift card and payment service unit, filed with regulators to raise as much as $200 million in an initial public offering of its Class A common stock.

Safeway, one of the largest U.S. supermarket chains, had revealed in September plans to take the Blackhawk unit public in the first half of 2013.

Blackhawk listed Goldman Sachs & Co, BofA Merrill Lynch, Citigroup and Deutsche Bank Securities as lead underwriters for the offering.

The company reported adjusted net income of $50.3 million on revenue of $949 million in 2012.

The filing did not reveal how many shares the company planned to sell or their expected price. However, it showed that all shares in the offering will be sold by existing shareholders, including Safeway.

The company intends to list its common stock on the Nasdaq under the symbol “HAWK.”

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

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