Alfa, the Mexican conglomerate, has business interests in car parts, petrochemicals and other products. It is now laid out plans to undertake an initial public offer of its shares in food unit Sigma Alimentos. The said plan was first reported in Bloomberg last Friday.

Sigma sells cheese, ham, yogurt and other refrigerated food. In 2012, it reported sales of MXN 45.476 billion and this comprised 23% of the total revenue of Alfa, according to the company's annual report. Sigma operates in the US, Central and South American regions, producing well-known brands such as Fud and Nochebuena.

Alfa, for its part, had undertaken an IPO of its Alpek Petrochemical unit. Its company executives had also confirmed that they would be open to listing other units in the Monterrey-based company. For its part, Alfa shares have appreciated by 36% this year.

Alfa spokesperson Enrique Flores had declined to make a comment, citing company policy of not making any statements regarding rumors.