Cencosud Pleased with NY Debut: Paulmann

Jun 25, 2012

The pricing of Cencosud’s $546m equity sale was in line with the company’s expectations, its top officials say, as the Chilean supermarket operator debuts its shares in New York and raises funds for expansion. “To have 6x demand for the offer is extraordinary, especially on a day when the US market fell 250 points” founder and chairman Horst Paulmann tells LatinFinance. “Leaving 6%-7% on the table wasn’t a mistake – quite the contrary. It was in line with our philosophy of live and share,” he adds, noting that as in the retail business, the most important thing...

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