Mexico’s Tiendas 3B US IPO Boosted to as Much as $589 Million
- Existing shareholders join offering with 5.6 million shares
- First Mexican consumer firm to list in US since Becle in 2016
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Mexican discount retailer BBB Foods Inc. has received more orders than there are available initial public offering shares after enlarging the size of the share sale, according to people familiar with the matter.
BBB Foods, which is set to price its first-time share sale later Thursday, raised the indicative price range to $16.50 to $17.50 a share, filings with the US Securities and Exchange Commission show. A group of existing shareholders are now selling about 5.6 million shares, which in addition to the company’s 28.05 million new shares would raise as much as $589.1 million at the top of the price range, according to data compiled by Bloomberg.