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Winn-Dixie operator Southeastern Grocers files for $500 million IPO‑Reuters

(Reuters) – Southeastern Grocers LLC, which operates supermarket chains Winn-Dixie and BI-LO, filed with U.S. regulators to raise up to $500 million in an initial public offering of common stock.

The Jacksonville, Florida-based company told the Securities and Exchange Commission in a preliminary prospectus that Citigroup, Credit Suisse and Deutsche Bank Securities were the lead underwriters for the IPO.

Southeastern Grocers has 685 stores in metropolitan areas of Florida, Georgia, Alabama and Louisiana among others.
The filing did not reveal how many shares the company planned to sell or their expected price.

The company, which is owned by LSF Southeastern Grocery Holdings LLC, said it would list its common stock under the “SEG” symbol but is yet to decide on the exchange.

Net proceeds from the offering would be used to repay debt, the company said in the filing. (link.reuters.com/jup43v)
The company’s net loss widened to $103.1 million in 2012 from $5.7 million a year earlier. Revenue, however, rose to $8.63 billion from $2.78 billion.

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.