06 Nov 2009 —  Chedraui Looks to IPO on Mexican Stock Exchange

Antonio Chedraui Eguia, CEO of Chedraui, stated that his company is looking into entering the Mexican Stock Exchange sometime in 2010. This would allow Chedraui to have better access to capital to speed growth in during economic recovery in Mexico in the coming years.

Chedraui currently operates about 140 stores in the hypermart and supermarket channels. Of those stores, 18 are operated in California under the El Super banner.

In calendar year 2009, the company is projected to open nine stores in total. In 2010, with greater access to capital through the Mexican Exchange, Chedraui is projecting to double new store construction to 15 units in Mexico and six in California.

As a side note, Chedraui denied any intent to acquire competing retailers Grupo Casa Ley or Comercial Mexicana.