MEXICO CITY – Mexico's Grupo Lala has no plan to hold an initial public offering of stock, a senior executive said on Monday, knocking down speculation that the leading dairy company might be eyeing a listing.
As Mexico's stock market hits record highs, local traders anxious to see more IPOs have mentioned Lala, with around 23 plants across Mexico, the United States and Central America, as a strong candidate.
Lala favors financing through its banks rather than selling an equity stake, Chief Financial Officer Victor Hugo Ibarra told Reuters on Monday.
"There's no plan right now. … We believe Lala can still wait before doing that," he said.
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