Mexican supermarket operator Chedraui is to debut on the Mexico City stock market today (30 April).

The deal had been pitched at a price range of MXN32 (US$2.6) to MXN40 earlier this week.

The firm’s IPO will be the first in Mexico since mid-2008.

It is understood the firm will use the IP proceeds to build more stores, expand in the north of the country and buy out rivals.

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