Mexican discount retailer BBB Foods Inc. has received more orders than shares available for its initial public offering after expanding its stock sale, according to people familiar with the matter.
BBB Foods, which will price its first stock sale later Thursday, raised its indicative price range to $16.50 to $17.50 per share, according to filings with the U.S. Securities and Exchange Commission emerges. A group of existing shareholders is currently selling about 5.6 million shares, which would raise up to $589.1 million at the top of the price range, in addition to the company's 28.05 million new shares, according to data compiled by Bloomberg.
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