Petco Looks to Go Public Via IPO

SAN DIEGO — Petco has taken steps toward becoming a publicly traded company.

The company announced that it has confidentially submitted a draft Registration Statement on Form S-1 to the U.S. Securities and Exchange Commission relating to the proposed public offering of its common stock.

The number of shares to be offered and the price range for the proposed offering have not yet been determined.

The IPO is expected to take place after the SEC completes its review process, subject to market and other conditions, according to a press release from Petco.

The retailer is owned by CVC Capital Partners and Canada Pension Plan Investment Board. It has over 1,500 stores throughout the U.S., Puerto Rico and Mexico.

Bloomberg reports that the owners “had been exploring an IPO that would value the company at $6 billion, including debt.”