Mexico's BBB Foods dips after launching share offering
BUZZ-Mexico's BBB Foods dips after launching share offering ** Discount grocer BBB Foods TBBB.N shares down 3.6% post-market to $34.85 after equity offering news
** Mexico City-based co (Tiendas 3B) commences ~13.3 mln share offering
** Tiendas 3B to sell 700,000 shares, certain selling shareholders to part with ~12.6 mln shares
** Co to use net offering proceeds it collects for general purposes, which may include strategic investments
** J.P. Morgan and Morgan Stanley are global coordinators, joined by BTG Pactual, Santander and Scotiabank as joint bookrunners
** Co has ~117.9 mln shares outstanding
** TBBB shares closed up 5.1% at $36.14 on Weds, up 8% YTD
** Of 12 analysts covering TBBB, 9 rate the stock "strong buy" or "buy", 3 "hold"; median PT $43, according to LSEG
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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