Gigante postpones Office Depot de Mexico IPO on market volatility

MEXICO CITY Wed Feb 5, 2014 5:31pm EST

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MEXICO CITY Feb 5 (Reuters) - Mexican retailer Grupo Gigante said on Wednesday it had postponed its up to 5 billion Mexican peso ($373.72 million) initial public offering of Office Depot de Mexico due to volatility and market conditions.

The company, which only announced the offering in January, had planned to sell up to 291 million shares in the office supplies retailer, including an over-allotment option at a price of between 16 and 18 pesos per share.

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