Mexican food processor Sigma Alimentos is revisiting a plan for an initial public offering of shares, with plans to raise as much as MXN18.5bn (US$1bn) in September.

The company, which is part of Grupo Industrial Alfa, is seeking to place around 15% of its equity and will price the shares at 23 to 29 pesos each, according to the prospectus. The San Pedro-based firm aims to register the shares on the Mexican stock exchange on 28 September, but said the listing will depend on market conditions.

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Sigma, which produces dairy products, meat and frozen foods, first touted a plan to sell shares in 2013.

Earlier in September this year, the company took full control of Romanian meat processing company Caroli Foods Group, having already owned 49% of the shares.

Sigma reported first-quarter revenues equivalent to US$1.35bn.

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In June, the company acquired Peruvian packaged meat and dairy company Sociedad Suizo Peruana de Embutidos.

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