Report: Office Depot de Mexico to raise up to $374 million in IPO

New York -- Mexico's Grupo Gigante expects to raise up to 4.954 billion pesos ($374.14 million) in its initial public offering of Office Depot de Mexico shares, Reuters reported.

The company plans to sell up to 291 million shares, local filings revealed.

The listing is provisionally set to price on Feb. 5, the report said.

In June, Grupo Gigante, acquired the 50% stake in the office supplies chain that it did not already own.

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