BJ's Wholesale Club, a warehouse membership club operating over 215 stores across the East Coast, announced terms for its IPO on Monday.
The Westborough, MA-based company plans to raise $600 million by offering 37.5 million shares at a price range of $15 to $17. At the midpoint of the proposed range, BJ's Wholesale Club would command a fully diluted market value of $2.1 billion and an enterprise value of $4.3 billion
BJ's Wholesale Club was founded in 1984 and booked $12.9 billion in sales for the 12 months ended May 5, 2018. It plans to list on the NYSE under the symbol BJ. BofA Merrill Lynch, Deutsche Bank, Goldman Sachs and J.P. Morgan are the joint bookrunners on the deal. It is expected to price during the week of June 25, 2018.
