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PetSmart subsidiary Chewy sets IPO share price higher than expected

Posted at 8:15 AM, Jun 14, 2019
and last updated 2019-06-14 11:15:30-04

Chewy Inc., the online pet product retailer owned by Phoenix-based PetSmartInc., has set the price of its initial public offering at $22 per share, the company announced Thursday.

Many market watchers have been fervently waiting for the listing, which was first thought to be between $17 and $19 per share, but was raised to the $19-$21 range and now has topped that mark.

Chewy is expected to start trading on Friday morning on the New York Stock Exchange under the ticker “CHWY."

The offering is expected to close on June 18, subject to customary closing conditions.

Read more about Chewy from the Phoenix Business Journal.