PLEASANTON, Calif. — Investors in Safeway ’s Blackhawk Network Holdings will raise up to $220 million in the gift card company’s initial public offering, Blackhawk said in a filing Monday.
Blackhawk, which is majority-owned by Safeway, said its current shareholders plan to offer 10 million shares on the public market, priced between $20 and $22 per share. Blackhawk itself would not receive proceeds for the offering.
The company said it has applied to list on the Nasdaq Global Select Market under the symbol “HAWK.”
Blackhawk previously stated its intention to hold the IPO this spring. The latest filing values the company at $1.09 billion, according to reports.
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