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Mexico’s BBB Foods targets up to $1.85 billion valuation in US IPO

2024.02.02 11:12


© Reuters.

(Reuters) -Discount retailer BBB Foods is concentrating on a valuation of up to $1.85 billion because it prepares for its preliminary public providing (IPO) in New York, the corporate stated on Friday.

The firm plans to promote 28.1 million shares, priced between $14.50 and $16.50 every, and lift up to $463 million on the prime finish, as per a submitting with the U.S. Securities and Exchange Commission.

The U.S. IPO market is trying to rebound from an arid two-year spell when financial uncertainty and excessive rates of interest dried up traders’ urge for food for brand spanking new listings.

However, the tepid response to latest IPOs, together with healthcare agency BrightSpring BTSG.O and Morgan Stanley Direct Lending Fund MSDL.N, signifies traders stay cautious.

Mexico-based BBB Foods, which operates a “hard discount” retail retailer chain in the nation, plans to checklist its shares on the New York Stock Exchange (NYSE) below the image “TBBB. ”

JPMorgan, Morgan Stanley, and BofA Securities are the lead underwriters for the IPO.

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