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Mexico's Alsea announces sharply reduced public share offering
November 13, 2012 / 4:30 AM / in 5 years

Mexico's Alsea announces sharply reduced public share offering

MEXICO CITY, Nov 12 (Reuters) - Latin America’s biggest restaurant operator Alsea said on Monday it will seek a 29 million peso ($2.20 million) public share offering, significantly smaller than the offering it said it hoped to launch last month.

The offering will include up to 58 million shares, the company said in a filing with the Mexican stock exchange.

In a statement released on Oct. 26, Alsea said it hoped to proceed with a 1.15 billion peso public share offering to refinance debt and fund investments.

Alsea, which operates the Starbucks, Domino’s Pizza and Burger King chains in Mexico, bought the restaurant chain Italianni’s earlier this year for 1.77 billion pesos.

According to the company’s website, Alsea runs 1,388 cafes and restaurants across Mexico, Argentina, Chile and Colombia as of last month.

Shares in the company closed Monday up 2.32 percent at 21.17 pesos.

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