Private equity-backed grocery chain Fairway Market has reportedly prices its IPO above the expected range.
Fairway, which is owned by Sterling Investment Partners, is set to float 13.7 million shares at a price of $13 per share, said Reuters, citing a person familiar with the matter.
The company will start trading on the NASDAQ exchange under the symbol FMW today.
Credit Suisse, BofA Merrill Lynch, Jefferies and William Blair acted as underwriters for the IPO.
The IPO price is above the expected range of $10 to $12 per share and values Fairway at $536m. The company has raised $178.1m via the float.
A document filed with US regulators revealed that Fairway expects to report sales of $175m to $178m for the fourth quarter, up from $150m a year earlier.
Back in january AltAssets reported that Sterling had raised at least $231m for its third buyout fund from 17 investors towards its $700m target.
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