Slim's Mexican retail chain to launch roadshow on Friday
MEXICO CITY Jan 23 (Reuters) - Sanborns, a cafe and retail chain owned by tycoon Carlos Slim, will launch a roadshow for its planned relisting on Friday, according to an official close to the deal.
Grupo Sanborns, which delisted from Mexico's stock exchange in 2007, said this month it plans to return with an offering of a 15.2 percent stake worth around $720 million.
The company will price the offering of up to 175,154,118 shares in February raising up to 9.1 billion Mexican pesos ($718.70 million), according to documents filed with Mexican regulators.
Sanborns accounts for about half of the sales of Slim's conglomerate Grupo Carso. The company operates coffee shops, restaurants and department stores including Saks and Sears in Mexico.
Slim, who Forbes ranks as the world's richest man, controls a business empire that includes Latin America's biggest telecommunications firm, America Movil, as well as banking, construction, real estate and mining companies.
The Sanborns offer, along with new issuance from Pepsi bottler Cultiba, is helping Mexico's stock exchange to a strong start to 2013.
Last year the stock exchange had 11 secondary offerings and five initial public offerings that raised over $9 billion, according to Thomson Reuters data.
- White House reverses, says Obama met uncle and lived with him during law school
- South Africans, some fearful, wake to life without Mandela |
- U.S. television, Twitter, alive with new version of 'Sound of Music'
- Ford leans on global Mustang to burnish overseas image
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image