(Reuters) - Phillips Edison & Company Inc, which owns and operates omnichannel shopping centers, is aiming for a valuation of about up to $3.4 billion, according to a regulatory filing on Wednesday. The company, which manages more than 300 shopping centers of which 278 are wholly owned by the company, plans to sell 17 million shares priced at between $28 and $31 per share, raising about $527 million. Adjusting for a one-for-three reverse stock split that was executed on July 2, 2021, the IPO price would be expected to be between $9.33 and $10.33 per share, the company said. Phillips Edison has 5,500 tenants including Trader Joe’s, Walmart, Walgreens, Starbucks, Burger King and T.J. Maxx. Phillips Edison purchased its first shopping center in Danville, Virginia in the early 1990s. The company in its present form was born after Phillips Edison Grocery Center REIT I Inc acquired Phillips Edison Limited Partnership’s real estate assets and asset management business in 2017. Morgan Stanley, BofA Securities and J.P. Morgan are the lead joint book-running managers for the offering. The company will be listed under the ticker symbol “PECO” on the Nasdaq after the offering. Reporting by Sohini Podder Noor Zainab Hussain in Bengaluru; Editing by Bernard Orr Our Standards: The Thomson Reuters Trust Principles.