Industrias Bachoco prepares public offer, delisting process

The Mexican company produces chicken and eggs
calendar icon 28 March 2022
clock icon 1 minute read

Industrias Bachoco, a Mexican holding company whose core business is producing chicken and egg products, said on Friday it is preparing a voluntary public offering and plans to delist from the Mexican and New York stock exchanges.

The delisting of Industrias Bachoco comes as a hit to the Mexican market, which has not had any new entrants since 2017.

The offer is expected to be carried out in Mexico and the United States at an estimated price of 81.66 pesos ($4.08) per share, the company said in a filing.

That represents a premium of 20% from the average value of the shares over the past 30 days. Shares closedat 66.16 pesos on Friday.

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