Centauro goes public on second try
April 17, 2019 |
Sporting goods store sells close to $200m in shares in the first IPO in Brazil this year
Centauro has raised BRL772m ($198m) in the first IPO in Brazil this year and the second attempt by the sporting goods store to go public.
Centauro offloaded 61.8m shares for BRL12.50 each, the lower end of the targeted price range of BRL12.10 to BRL14.70 per share, the company said in securities filings.
Bradesco BBI lead the share sale on the B3 stock exchange in São Paulo, joined by Itaú BBA, BTG Pactual, Goldman Sachs, BB Investimentos and Credit Suisse.
Grupo SBF holds on to 46.4% of Centauro after the IPO, while GP Investments has 26%. The remaining 27.6% trades on the B3. SBF owned 62.7% of Centauro and GP had 35.2% before the IPO, according to the prospectus.
SBF refiled for the Centauro IPO in February this year after the local securities regulator denied a request to take the company public in July 2018 because SBF had not set the price per share.
Centauro said it will use roughly 28% of the money it raised in the IPO to open new stores and 17% to add to its cash position. It also said it will use 47% of the money to pay off debt, including loans from Banco do Brasil, Bradesco and Itaú.