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Carrefour shares climb as company unveils Brazil IPO details
June 29, 2017 / 7:10 AM / 6 months ago

Carrefour shares climb as company unveils Brazil IPO details

PARIS, June 29 (Reuters) - Shares in French retailer Carrefour rose on Thursday after the company’s Brazilian unit unveiled details for a possible $1.7 billion initial public offering (IPO) in Sao Paulo.

Carrefour shares were up by around 1 percent by 0705 GMT.

The stock was among the top performers on France’s benchmark CAC-40, which was up by 0.3 percent, and it also slightly outperformed an 0.7 percent gain on the STOXX Europe 600 retail index.

On Wednesday, Carrefour’s Brazilian unit filed for an initial public offering that could raise 4.5 billion to 5.6 billion reais ($1.4 billion to $1.7 billion) next month, making it Brazil’s biggest listing in over four years. (Reporting by Sudip Kar-Gupta; Editing by Dominique Vidalon)

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