Fairway Market Files for IPO

Published on Tue, 09/25/2012 - 12:59
By FNNO Staff in analysis, business finance, fairway group holdings, fairway market, fnno, ipo, market, news, stock, trading
fairway group holdings, fairway market, ipo, fnno, business finance, trading, stock, market, analysis, news

A small grocery store chain in New York City is going public. Fairway Group Holdings, the holding group for the popular Fairway Market stores, filed for its initial public offering on Monday. The small market, which started in the 1930s, has grown to 11 stores in the New York, New Jersey, and Connecticut area.

Sterling Investment Partners acquired 80 percent of the chain back in 2007 and will retain ownership of the company once it goes public. Fairway said that proceeds of the IPO will fund future growth and will be used for general corporate purposes.

The preliminary filing did not disclose how many shares will be sold or at what price. The stock is expected to be traded on the NASDAQ exchanged under the ticker symbol "FWM".

By FNNO Staff

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