Cencosud seeks $300 mln in Brazilian IPO

Cencosud seeks $300 mln in Brazilian IPO

Capital Markets Corporate & Sovereign Strategy Equity IPO Andean Chile Brazil Latin America

Chilean retailer Cencosud said Wednesday that it plans to raise around $300 million in an initial public offering (IPO) of its Brazilian unit, taking advantage of low interest rates in South America's largest economy. The company will offer between 10% and 35% of the unit's shares in the offering by July next year and use the proceeds to fund the expansion of its supermarket business in Brazil, it said in a securities filing. Cencosud, which operates the Bretas, GBarbosa and Prezunic supermarket

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial