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Smart & Final grocery chain goes public
Smart & Final grocery chain goes public

Smart & Final Stores Inc., the warehouse-style grocery chain with a deep history in Los Angeles, raised about $161 million Wednesday through the public sale of nearly 13.5 million shares. Shares of the Commerce company climbed as high as $13.42, up from the offering IPO price of $12. The stock closed at $12.01 a share. The offering is expected to net the company about $145.5 million, according to a regulatory filing. Smart & Final is going public at a time of increased competition in the grocery space. Wal-Mart Stores Inc. and Target Corp. have both stepped up their fresh-food offerings, while e-commerce giant Amazon has also started testing grocery delivery. The company, which is...

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