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EURO / BRAZILIAN REAL (EUR/BRL)

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Brazilian retailer Havan pulls IPO plan - filing

10/27/2020 | 01:43pm EST

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)


© Reuters 2020
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