THE havan asked the Brazilian Securities Commission (CVM) to suspend the company’s IPO process. The retailer’s entry into the Stock Exchange returned to the financial market’s agenda this Monday (23) based on the information that the CVM rejected the registration request. The chain of stores led by businessman Luciano Hang claims that the rejection is the result of a voluntary decision taken by the group that manages the business.
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In a statement, Havan added, without going into too much detail, that it opted for suspension “due to the company’s current strategic planning” and that on May 12 it had already communicated the decision to CVM – which would have rejected the request as of the manifestation from the company. The text says: “So, for the time being, Havan postpones its intention to carry out its initial public offering of shares (IPO), which will be resumed at an opportune time and duly informed.”
The material distributed also includes a statement by Hang stating that “this does not affect our purpose of continuing to plant stores in Brazil and generating opportunities for Brazilians”. It also adds that the network follows with its expansion project – which foresees a total contribution of at least R$300 million in 2021.
The column tried to contact the owner of Havan to talk about the matter, but it hasn’t been able to reach this publication.
This is not the first time that Havan has pushed forward its plans to go public. The company had already retreated in strategy last year after analysis below expectations in relation to the market value of the network. In March of this year, the conversations were resumed. In June, the retailer reached launch a website with information for investors. The new foot on the brake indicates that there is no rush to go to the market.
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