Cencosud considers listing on the U.S. stock market; shareholders approved increasing capital by 960B Chilean pesos on April 29, 2011
Cindy Allen
LOS ANGELES
,
February 10, 2012
(Industry Intelligence)
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On Feb. 9, Cencosud SA, a Chilean retail holding company, announced that it was considering potentially issuing American Depositary Receipts and listing on the U.S. stock market, The Wall Street Journal reported Feb. 9.
If Cencosud does decide to list on the U.S. stock market, it will be part of the 960 billion Chilean peso (US$2.0 billion) capital increase approved by shareholders at a meeting on April 29, 2011.
"The company has undertaken actions aimed at studying a possible share listing in the U.S. through the ADR program, and it has contacted domestic and international investment banks and lawyers,” read a portion of Cencosud’s filing with the local SVS securities regulator.
Cencosud is Latin America’s third-largest retail chain.
The primary source of this article is The Wall Street Journal, New York, New York, on Feb. 9, 2012.
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