MEXICO CITY Jan 11 Grupo Sanborns, the retail
arm of the empire of world's richest man Carlos Slim, said on
Friday its shareholders will vote Jan. 29 on the company's plan
to go public in Mexico again and offer shares to institutional
Grupo Sanborns, a unit of conglomerate Grupo Carso
, said on Thursday it plans to offer a 15.2 percent
stake, raising around $720 million, to fund expansion plans,
including possible acquisitions.
The company will split the up to 350 million share offering
equally between domestic and international investors.
Grupo Sanborns, which operates coffee shops and its
name-sake restaurant and retail chain selling anything from
flashy ties to ornaments and flatscreen TVs, delisted from the
Mexican stock exchange in 2006 after Grupo Carso absorbed it.
In 2010, the retailer flirted with the idea of opening a
branch in Manhattan but the plan never panned out.
Grupo Sanborns shareholders will also vote on a share split
at the extraordinary meeting later this month but the ratio was