Havan again postpones the IPO plan

Havan (Photo: Disclosure)

The Brazilian Securities and Exchange Commission (CVM) informed this Monday (23) the rejection of the application for registration as a publicly-held company by Havan, but by voluntary withdrawal from the retailer. With this, the company postponed for the second time plans for an initial public offering (IPO, its acronym in English).

In a note after the information appeared on the CVM website, Havan informed that the rejection was due to the voluntary withdrawal that took place on May 12th.

“For the time being, Havan postpones its intention to carry out its initial public offering, which will be resumed at an opportune time and duly informed,” stated the company in a statement.

The retailer reported having asked for withdrawal as a result of the company’s current strategic planning.

“In addition, for the same reasons, and as a consequence of the above-mentioned withdrawal, the company, pursuant to item 4.14 of the Regulation for the Listing of Issuers and Admission to Trading Securities of B3, decided not to proceed with the application for admission and listing in the Novo Mercado segment of B3. Thus, the company, for the time being, postpones its intention to carry out its Initial Public Offering of Shares, which will be resumed at an opportune moment and duly informed to the market”, he highlighted in the statement.

Businessman Luciano Hang, who was highlighted in the media as a supporter of President Jair Bolsonaro, planned to sell a slice of the iconic chain of stores that have replicas of the Statue of Liberty on the façade, and seek resources to open distribution centers and stores, in addition to investing in technology and strengthen working capital.

(with Reuters)

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