Sonae SGPS to List Food-Retail Business on Lisbon Euronext
19 Septiembre 2018 - 2:55AM
Noticias Dow Jones
By Nathan Allen
Sonae SGPS S/A (SON.LB) said Wednesday that it plans to list its
food-retail business, Sonae MC, on the Portuguese stock exchange
during the fourth quarter.
The aim of the initial public offering is to provide greater
visibility of the food unit's standalone valuation and to reduce
the group's conglomerate discount, Sonae said.
Sonae SGPS will remain the majority shareholder and is planning
to list at least 25% of the company's shares, it said.
The offer will take the form of a secondary sale of existing
shares in Sonae MC and will comprise a public offering to
Portuguese institutional and retail investors, and a private
placement to international institutional investors.
Barclays PLC (BARC.LN), BNP Paribas SA (BNP.FR) and Deutsche
Bank AG (DBK.XE) are coordinating the IPO and will act as joint
bookrunners for the institutional placement.
Sonae MC is Portugal's biggest food retailer with a market share
of 21.9%, according to its parent. It posted net profit of 115
million euros ($134.3 million) on sales of EUR3.94 billion in
2017.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
September 19, 2018 03:40 ET (07:40 GMT)
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