BUZZ-Mexico's BBB Foods dips after launching share offering

Jpmorgan Chase

Jpmorgan Chase

JPM

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** 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


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