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GRUPO GIGANTE ANNOUNCES CONCLUSION OF RIGHTS OFFERING

 MEXICO CITY, June 11 /PRNewswire/ -- Grupo Gigante, S.A. de C.V., reported today that 90.37 percent (209,658,430 of 232,000,000) of the shares that were available in Mexico in a rights offering that concluded on May 26, 1993 have been subscribed and paid for at a price of N$2.00 (two new pesos) per share. Proceeds of the rights offering will be used to reduce indebtedness.
 The shares which were not subscribers (22,341,570) have the status of treasury shares and may be offered by the board of directors of the company during the three months following May 26, 1993. The company has no current plans to conduct a public offering of such shares.
 -0- 6/11/93
 /CONTACT: Juan Carlos Mateos of Grupo Gigante, 52-5-724-8369, or John McInerney of Dewe Rogerson, 212-688-6840, for Grupo Gigante/


CO: Grupo Gigante, S.A. de C.V. ST: IN: SU: OFR

LD-SM -- NY057 -- 1205 06/11/93 16:29 EST
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Publication:PR Newswire
Date:Jun 11, 1993
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