Sanborns Enters ECM Queue

Sanborns Enters ECM Queue

Mexico Equity

Grupo Sanborns has launched its IPO, aiming to raise at least MXP11.6bn ($908m) and price February 7. The Mexican retail operation owned by Carlos Silm’s Grupo Carso plans to sell 431.7m shares, assuming a 15% greenshoe, at MXP27.00-MXP32.00, according to offering documents, meaning a MXP12.74bn deal at the midpoint. The shares are to be divided into domestic and international tranches. The issuer is raising funds for expansion and working capital. Grupo Sanborns will hold the iconic Sanborns st

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