Cencosud could add to IPO

Cencosud could add to IPO

IPO Equity Corporate & Sovereign Strategy M&A Chile

Chile's Cencosud could increase the size of a planned IPO of its shopping malls division to $1.3bn from $1b and also sell non-core assets to cut debt and retain its investment grade ratings, LatinFinance has heard. "If they can't get $1bn by selling 20% to 30% [of Cencosud Shopping Malls], they might increase it to 33% and/or sell non-strategic assets," said an analyst in Santiago. Investors are keen to bankroll equity deals in Chile, but Cencosud, whose shares have fallen more than 30% in the p

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