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Carrefour Files IPO For Brazil Operation

Published on Jun 29 2017 11:19 AM in Retail tagged: Trending Posts / Brazil / IPO / Carrefour Brasil

Carrefour Files IPO For Brazil Operation

French retailer Carrefour has announced that Atacadão, the parent company of the retailer's activities in Brazil, filed its initial public offering (IPO) on 28 June.

The group filed the IPO with the Brazilian Securities Commission in order to list the shares of its Brazilian arm on the São Paulo stock exchange.

The indicative price range of the IPO is between 15 and 19 reais per share, which would result in a total base offering size of between 4.5 billion reais (€1.2 billion) and 5.6 billion reais (€1.5 billion). This will create an overall equity value of Grupo Carrefour Brasil at IPO of between 29.7 billion reais (€7.9 billion) and 37.6 billion reais (€10.0 billion).

Share Offerings

The IPO will consist of a primary offering issued by Carrefour Brazil, which represents 10.4% of its share capital, as well as a secondary offering to be sold by Carrefour and Península, representing 1.7% and 2.9% of its share capital respectively.

The IPO is expected to be priced on 18 July, and Carrefour Brasil’s share will start trading on the São Paulo stock exchange on 20 July.

Grupo Carrefour Brasil’s activities include its hypermarkets, supermarkets, convenience stores, financial solutions and complementary services, as well as Atacadão’s cash & carry and wholesale operations.

© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Aidan O’Sullivan. Click subscribe to sign up to ESM: The European Supermarket Magazine.

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