Retail big Cencosud is submitting for an IPO for its Brazilian operations. Shutterstock
One of many largest retailers in South America, Santiago-based Cencosud, has filed for an preliminary public providing (IPO) on the Brazilian inventory trade for its Brazilian operations, aiming to lift round 1.5 billion reais ($288 million).
The funds raised are earmarked to finance the corporate’s growth, together with by way of potential mergers and acquisitions, new retailer openings, renovations, e-commerce and logistics initiatives. Particulars, together with the value vary of the providing, haven’t been publicly introduced.
Cencosud, which owns and operates procuring malls, shops, dwelling enchancment centres, grocery store chains and different actual property pursuits throughout Latin America, first entered the Brazilian market in 2007.
One of many largest retailers in South America, Cencosud, reported total gross sales development of 23.3 % year-on-year for the second quarter to 2.67 trillion Chilean pesos ($3.4 billion) in 2021. EBITDA grew 11.9 %.
https://www.businessoffashion.com/news/global-markets/retailer-cencosud-brazil-files-for-ipo-eyes-expansion | Retailer Cencosud Brazil Recordsdata for IPO, Eyes Growth