The owner of the animal supply chain store Petco raised US$864 million ($1.14 billion) in an initial public offering, returning the retailer to the public market 15 years after it was taken private.

The company, which is changing its name to Petco Health and Wellness Co. in conjunction with the listing, sold 48 million shares for US$18 each, according to a statement. The private equity-backed company had marketed the shares for US$14 to US$17.

After the IPO, Petco will continue to be controlled by its current owners, which include CVC Capital Partners and Canada Pension Plan Investment Board. They acquired Petco for US$4.6 billion from TPG and Leonard Green in 2016, a decade after those two firms took Petco private.

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