August 31, 2018 / 3:32 PM / 9 months ago

Chilean retailer Cencosud shares up 4.8 pct on mall unit IPO announcement

Aug 31 (Reuters) - The Chilean retailer Cencosud saw its shares rise 4.8 percent within half an hour of announcing on Friday it would float its commercial shopping mall subsidiary on the local stock exchange.

Cencosud, one of the largest retailers in South America with operations in Chile, Argentina, Brazil, Colombia and Peru, said in a statement the IPO would take place between March and April 2019.

It said it would also consider the option of privately placing a minority stake in the unit.

Reporting by Felipe Iturrieta; writing by Aislinn Laing Editing by Chizu Nomiyama

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