Mexican conglomerate Alfa , which manufactures car parts, petrochemicals and other products, is planning an initial public offering of its food unit Sigma Alimentos, Bloomberg reported on Friday.
Sigma, which sells ham, cheese and yogurt among other refrigerated foods, had sales of 45.476 billion pesos ($3.46 billion) in 2012, or 23 percent of Alfa's total revenue, according to Alfa's annual report.
Alfa launched an IPO of its Alpek petrochemical unit last year, and company executives have previously said they would be open to listing other units of the Monterrey-based company.
Sigma operates in the United States, Mexico and Central and South America and produces brands that are well-known in Mexico, including Fud and Nochebuena.
The company has hired Citigroup, Goldman Sachs, Bank of America Corp and Mexico's Grupo Financiero Banorte to manage the stock offering, Bloomberg reported.
Enrique Flores, spokesman for Alfa, declined to comment, citing a company policy of not commenting on rumors.
Alfa shares have risen 36 percent so far this year, while Alpek shares are down 13.6 percent this year.
Mexican companies and real estate investment trusts have been raising equity capital at a record rate this year, selling almost $10 billion in shares.
Earlier this week, dairy company Lala said it was planning an intial public offering.
Sigma, which sells ham, cheese and yogurt among other refrigerated foods, had sales of 45.476 billion pesos ($3.46 billion) in 2012, or 23 percent of Alfa's total revenue, according to Alfa's annual report.
Alfa launched an IPO of its Alpek petrochemical unit last year, and company executives have previously said they would be open to listing other units of the Monterrey-based company.
Sigma operates in the United States, Mexico and Central and South America and produces brands that are well-known in Mexico, including Fud and Nochebuena.
The company has hired Citigroup, Goldman Sachs, Bank of America Corp and Mexico's Grupo Financiero Banorte to manage the stock offering, Bloomberg reported.
Enrique Flores, spokesman for Alfa, declined to comment, citing a company policy of not commenting on rumors.
Alfa shares have risen 36 percent so far this year, while Alpek shares are down 13.6 percent this year.
Mexican companies and real estate investment trusts have been raising equity capital at a record rate this year, selling almost $10 billion in shares.
Earlier this week, dairy company Lala said it was planning an intial public offering.
