Banco Bradesco Stock- Banco Bradesco Stock – Brazilian big box retailer Grupo Mateus files for IPO | Fintech Zoom
Banco Bradesco Stock- Brazilian big box retailer Grupo Mateus files for IPO
SAO PAULO, Aug 17 (Reuters) – Grupo Mateus SA, a Brazilian operator of supermarkets and discount warehouse-style stores, has filed for an initial public offering with the country’s securities regulator, according to a document.
Grupo Mateus has 137 stores in Brazil’s northern and northeastern states, selling food, furniture and electronics. The family-owned chain which grew thanks to an aggressive pricing strategy ended 2019 with 9.9 billion reais ($1.81 billion) in revenues and net income of 338 million reais.
Both the company and its shareholders, including founder Ilson Mateus, plan to raise money in the offering, but they did not disclose yet the amount pursued. Mateus was a wildcat miner and itinerant seller of cachaca before opening his first supermarket.
Investment banking units of XP Inc, Banco Bradesco SA, Banco BTG Pactual SA, Banco Safra, Banco do Brasil SA, Banco Santander Brasil SA and Itau Unibanco Holding SA will manage the offering.
$1 = 5.4675 reais Reporting by Carolina Mandl Editing by Chris Reese
Banco Bradesco Stock – Brazilian big box retailer Grupo Mateus files for IPO
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