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Brazil's Magazine Luiza ditches share offering plans
June 22, 2017 / 11:54 AM / 6 months ago

Brazil's Magazine Luiza ditches share offering plans

BRASILIA, June 22 (Reuters) - Brazil’s retailer Magazine Luiza SA suspended studies for a potential share offering and dismissed the financial advisors preparing the operation, the company said on Thursday.

The retailer said in May that it was considering selling shares but was undecided about the volume or structure of the operation. Common shares are up 131 percent year-to-date on surprisingly strong sales despite a recession. (Reporting by Silvio Cascione)

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