March 20, 2019 |
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
Chilean retailer could aim to raise $1.3bn from the sale of shares in its shopping malls business, source says