Feb 2025
Conyers has advised BBB Foods (NYSE:TBBB) on a secondary offering of its shares on the New York Stock Exchange. Under the terms of the underwritten public offering, existing shareholders of BBB Foods sold 21 million shares for an aggregate price of US$593.25 million.
BBB Foods is one of the fastest growing retailers in Mexico, opening a new store every 18 hours in 2024. The company listed on the New York Stock Exchange in February 2024 with a market capitalisation of approximately US$2.2 billion that has since grown to approximately US$3 billion, making it the second largest BVI listed company. LatinFinance recently named BBB Food’s IPO as its Initial Public Offering of the Year.
Partner Anton Goldstein and Associate Nina Goodman of Conyers’ BVI office advised on the secondary offering alongside Simpson Thacher & Bartlett LLP as US counsel and Greenberg Traurig, S.C. as Mexican counsel. All three firms had previously advised BBB Foods in connection with its IPO.