NEW YORK (CNN/Money) - Asbury Automotive Group, Inc., one of the nation's largest auto retailers, raised $127 million late Wednesday ahead of its initial public offering on Thursday.

Stamford, Conn.-based Asbury sold 7.7 million shares at $16.50 each, near the top of its $15 to $17 range, via bookrunner Goldman Sachs. Underwriters on the deal also have an option, or a green shoe, to buy an additional 1.2 million shares.

Asbury, the week's third IPO, operates 127 franchises through 91 dealer locations in the United States. The company focuses its new vehicle sales on mid-line import and luxury brands. Honda, Ford and Toyota were Asbury's top selling brands in 2001, the company said in its most recent filing with the Securities and Exchange Commission.

New issues have been on a winning streak this week. WCI Communities (WCI: Research, Estimates), a builder of gated communities, rose nearly 20 percent Tuesday after pricing 6.9 million at $19 per share. via UBS Warburg. Anteon International (ANT: Research, Estimates), a provider of systems engineering services primarily to the defense community, gained nearly 11 percent after selling 15 million shares at $18 via Goldman Sachs.

Asbury plans to trade under the New York Stock Exchange symbol ABG.