After postponing its IPO at the end of April, digital outlet Privalia announced it may resume its plan to go public, this time via a restricted offering on the B3 exchange in São Paulo.
When the initial IPO plan was aborted in April, CEO Fernando Boscolo said he was waiting for the business environment to improve in the country to price Privalia’s shares correctly.
The retailer said in a securities filing on Monday that the restricted offering would be subject, among other things, to the conditions of the Brazilian and international capital markets.
According to the company, the funds raised via the IPO will be used for acquisitions and e-commerce platform development.
Privalia was initially founded in Barcelona in 2006 as an online fashion flash sales outlet. In addition to Spain, it operates in Italy, Mexico and Brazil, where it has been present since 2008.
With this public offering, the company follows other major retailers in Brazil, including Petz, Enjoy and Grupo Mateus, which have all gone public over the last year.