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Supermarket chain Albertsons plans to postpone its planned initial public offering, and a source familiar with the matter told CNBC Thursday it would likely come before the Thanksgiving holiday.
Earlier in the day, the company said it was postponing the IPO indefinitely due to "market volatility." An Albertsons spokesman declined to say how long the IPO may be delayed.
The company already delayed its plans to go public Wednesday as retailer Wal-Mart's shares were crushed by disappointing sales and earnings guidance. Albertsons, which is owned by private-equity firm Cerebus Capital Management and other sponsors, originally planned to raise as much as $1.95 billion in an IPO priced between $23 and $26 per share.
However, on Thursday Albertsons seemed to be pricing in under $20. The company said it is considering releasing updated financials in order to improve investor comfort.
However, already wary investors cooled on Albertsons after Wal-Mart sent a shock through the retail space, a person familiar with the matter said. Institutional investors bidding for shares expressed interest in a price point much lower than the mid-$20s.
A rocky patch for stock markets has cast doubts on the broader IPO market. First Data went through with its IPO plans Thursday, and its shares were 1 percent higher around noon ET in up-and-down trading.
— CNBC's Kate Kelly and David Faber contributed reporting.
Correction: Albertson's declined to comment on the timing of its potential IPO. A source close to the situation says it could come as soon as Thanksgiving. Those facts were misstated in an earlier version of this article.