- After announcing the IPO in August, C&A will go public on October 28 with the forecast of reaching BRL 2.2 billion
- With the investment the company aims to pay some loans and keep investing in expanding the business in Brazil
After the IPO’s announcement in August, Cofra Holdings, the Dutch fashion retail group that owns the C&A brand, had chosen six banks to manage C&A’s public offer: Morgan Stanley, Bradesco BBI, BTG Pactual, Citi, XP Investimentos, and Santander. At that time, the company was forecasting to reach an investment of BRL 2 billion and now that the negotiation process is developed the future keeps looking bright for C&A.
Scheduled for going public on October 28, the market is expecting that the fashion retailer’s IPO could achieve BRL 2.2 billion. According to a source close to the process in an interview for the Brazilian media outlet O Estado de S. Paulo, “the company results in a lot of capital and the company’s performance is going pretty well. Otherwise, the sales in remodeled stores are growing by an average of 8%.”
The public offer will happen at first in a primary batch and the fund will be destinated to paying for loans and keep expanding the brand in the Brazilian fashion market.