Initial Public Offering of the Year: Cencosud
Initial Public Offering of the Year: Cencosud
Several years after initially floating the idea of spinning out its shopping mall real estate portfolio, the Chilean retailer Cencosud delivered a stunning initial public offering of Cencosud Shopping in June.
The IPO turned out to be the largest transaction of its kind in Chile’s history, a $1.056 billion share offering that was executed after a one-week roadshow that drew investors from not just the western hemisphere, but Europe as well. In addition to being the nation’s largest IPO, it was also deemed the largest equity capital market transaction in Chile for the past six years.
Citing the mammoth size of the transaction,and the fact that it was executed in the local market versus a US-l
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