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Published
Oct 31, 2016
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Mexico's Grupo Axo aims to raise $106 mln in IPO next month

By
Reuters
Published
Oct 31, 2016

Mexico's Grupo Axo, an apparel and home goods franchiser that markets brands like Tommy Hilfiger and Victoria's Secret, plans to raise about 2 billion pesos ($105.88 million) in an initial public offering, three people familiar with the matter said on Monday.


Grupo Axo is reportedly eyeing a U.S. IPO to the value of more than $105 million - Grupo Axo


The company, partially owned by restaurant operator Alsea and brokerage Evercore, announced plans last week to list its shares. It did not disclose the number of shares, nor the amount expected to be raised from the listing, which is scheduled for December, according to a filing with the local bourse.

The company did not immediately respond to requests for comment.

The offering, which is underwritten by Credit Suisse and brokerage GBM, will also be placed in Chile, Colombia and Peru through the Latin American Integrated Market, or MILA. ($1 = 18.8902 Mexican pesos)

 

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