Grupo Comercial Chedraui plans to launch an initial public offering of shares, the Mexican supermarket group said in a regulatory filing yesterday (12 April).

The company, which is owned by the Chedraui family, said that it will place a minority of its shares on the Mexican stock exchange.

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The IPO is likely to generate an estimated US$452m and could be held as early as next week, the company revealed.

A spokesperson for the company declined to comment on what proceeds from the sale would be used for.

Chedraui operates 142 supermarkets in Mexico in addition to 21 outlets in southern areas of the US.

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