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BJ's Wholesale Club sets price range for IPO

BJ's Wholesale Club Holdings Inc. expects to price its IPO of 37.5 million shares between the range of $15 and $17 per share, according to an SEC filing June 18.

The company also plans to grant underwriters an option to purchase up to an additional 5,625,000 common shares.

BJ's Wholesale Club expects net proceeds of about $563 million, assuming the shares are priced at $16 each. Net proceeds will be used for the repayment of debt.

The warehouse club operator, which will list on the New York Stock Exchange under the symbol BJ, was taken private by Leonard Green & Partners LP and CVC Capital Partners in 2011.

Merrill Lynch Pierce Fenner & Smith Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Jefferies LLC, Wells Fargo Securities LLC, Nomura Securities International Inc., Robert W. Baird & Co. Inc., Guggenheim Securities LLC, Natixis Securities Americas LLC, William Blair & Co. LLC, and Siebert Cisneros Shank & Co. LLC will be the underwriters for the offering.