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Fairway Said to Eye April IPO

NEW YORK — Fairway Group Holding Corp. here could launch its initial public offering of stock next month, according to reports on Monday.

The company, which operates the 12-unit, high-volume Fairway Market chain in the New York area and is owed by Sterling Investment Partners, could seek to raise up to $200 million, Bloomberg News reported.

Fairway had filed a prospectus last September detailing its financial performance, and updated its filings last week with financial results through Dec. 30. Neither filing indicated when the offering might take place, the value, or number of shares offered.

Read more: Fairway Losses Continue as Sales Grow

Bloomberg cited “people familiar with the matter” in reporting that the IPO could take place in April. Fairway and Sterling could not be reached for comment on Monday.

According to its initial filings with the Securities and Exchange Commission, the stock will list on Nasdaq under the symbol FWM. The lead investment banks for the offering are Credit Suisse Group AG and Bank of America Corp.

Fairway posted a loss of about $56.2 million through the first 39 weeks of its current fiscal year, on $482.5 million in sales.

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