Famsa To List On Mexican Exchange

Mexican home appliance retailer Grupo Famsa is to launch a global IPO, representing around 33% of its capital, via the Mexican Stock Exchange. The IPO, which Famsa hopes will raise $230 million, will comprise $160 million of a primary share offering and $80 million of a secondary share offering. The money raised will be used to pay down debt and fund expansion. The issue is being jointly coordinated by BBVA Bancomer and Credit Suisse.