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Petco IPO Puts Retailer’s Value at $6.4 Billion

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Petco debuted its IPO at $26 per share on Jan. 14, 44% above its expected price of $18, according to CNBC. The stock reached $29.40 by closing, putting the company’s market value at $6.4 billion.

The pet retailer released 48 million shares of Class A common stock and gave underwriters a 30-day option to purchase up to an additional 7.2 million shares of its Class A common stock. The company is now trading under the ticker symbol “WOOF.”

Petco previously went public in 1994 but was taken private in 2000 after its acquisition by Leonard Green Partners and Texas Pacific Group. Current owners CVC Capital Partners and Canada Pension Plan Investment Board filed the paperwork for the IPO in November 2020.

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