December 3, 2020 |
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
Chilean retailer expects to list between 10% and 35% of shares in its Brazilian unit on the B3