US Markets

Brazilian retailer Havan pulls IPO plan - filing

Brazilian department store chain Havan SA, whose founder is being investigated as part of broad probes into political disinformation campaigns, has ended plans for its initial public offering, the company said in a filing on Tuesday.

SAO PAULO, Oct 27 (Reuters) - Brazilian department store chain Havan SA, whose founder is being investigated as part of broad probes into political disinformation campaigns, has ended plans for its initial public offering, the company said in a filing on Tuesday.

The company had not disclosed the offering size, but sources said a 5 billion reais ($906 million) portion of the offering would go to further expanding the chain of 149 stores, recognizable for the Statue of Liberty replicas that adorn them across Brazil.

(Reporting by Aluisio Alves; writing by Gabriel Stargardter; editing by Stephen Eisenhammer)

((Gabriel.Stargardter@thomsonreuters.com; +55 21998116099; Reuters Messaging: gabriel.stargardter.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More