BUZZ-Mexico's BBB Foods bounces after pricing share offering

Jpmorgan Chase

Jpmorgan Chase

JPM

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** Shares of discount grocer BBB Foods TBBB.N up 3.2% before the bell to $33.79 after follow-on priced

** Mexico City-based co (Tiendas 3B) late Thurs announced ~13.3 mln shares at $32.50

** TBBB shares fell 9.4% to close at $32.73 on Thurs after co launched the offering late Weds

** Private equity firm Quilvest Capital Partners offloaded ~9.7 mln shares of the ~12.6 mln shares offered by existing holders, per the prospectus

** Tiendas 3B to use net proceeds from its sale of 700,000 shares for general purposes, including potential strategic investments

** J.P. Morgan and Morgan Stanley are global coordinators, joined by BTG Pactual, Santander and Scotiabank as joint bookrunners

** At Thurs close, TBBB shares down 2% YTD

** 9 Of 12 analysts rate the stock "strong buy" or "buy", 3 "hold"; median PT $43, according to LSEG