Cencosud S.A., multi-brand retailer in South America, has planned to offer up to $718 million in American depositary shares, the company said Friday in the F-1 filing. Pricing terms of the offering were not disclosed.
According to the filing with the Securities and Exchange Commission, the company said that it intends to list its ADS on the New York Stock Exchange under the symbol CNCO. The company's common shares are listed on the Santiago Stock Exchange, the Bolsa Electronica de Chile and the Valparaiso Stock Exchange under the symbol "CENCOSUD".
Headquartered in Chile, Cencosud operates 906 supermarkets, home improvement stores, shopping centers and department stores having operations in Chile, Argentina, Brazil, Colombia and Peru. The company also offers private label credit cards, consumer loans and limited financial services to retail customers.
Santiago, Chile based company plans to use proceeds to repay debt and acquire the remaining 38.636% shares of its subsidiary Jumbo Retail Argentina S.A. currently held by UBS AG London as well as for capital expenditures, working capital and general corporate purposes.
Cencosud reported quarterly profit attributable to controlling shareholders was Ch$54.4 billion or $111.6 million, down from a year-earlier profit of Ch$65.8 billion. For the three month ended March 2012, Revenue rose to Ch$2.17 trillion or $4.45 billion, from Ch$1.74 trillion.
J.P. Morgan Securities and UBS Securities are acting as the lead underwriters and joint book-running managers of the offering.
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