MEXICO CITY Oct 7 Mexican dairy company Lala
plans to price its almost $1 billion IPO on Oct. 15, according
to an investor presentation made by executives on Monday.
Lala, among the biggest dairies in Latin America, is seeking
to raise capital to expand its distribution and prepay some bank
debt, according to regulatory filings.
Lala has a well-recognized brand name in Mexico with just
over half of the country's market for milk and cream and about a
third of the market for pre-packaged cheese, according to AC
Nielsen figures cited by the company.
"Lala is one of the most public companies in Mexico without
being public," company President Eduardo Tricio told potential
The company is selling a stake of over 18 percent and plans
to issue up to 511,111,111 shares, including an over-allotment
option, at a price of between 23.50 pesos and 27.50 pesos a
The IPO could raise up to 13 billion pesos ($996.33
The dairy company's IPO comes amid a record rash of stock
listings in Mexico.