Retailer Havan plans to go public on the São Paulo Stock Exchange (B3) with an initial public offering (IPO) estimated at R $ 10 billion. If this forecast is correct, the company will be valued at no less than R $ 100 billion, just below Magazine Luiza, which is currently worth R $ 150 billion on the stock exchange.
As disclosed by the company, the funds acquired will be directed towards the expansion of stores and the distribution center, technology and reinforcement of working capital. Currently, the Santa Catarina retailer has 147 stores and plans to reach 200 units by 2022.
Strategy in the economic crisis
In a letter to potential investors, the company’s CEO, Luciano Hang, told of its origin and the beginning of Havan. “It was at this same age [12 years old] that I decided to set up a canteen at school with a friend, we were selling cookies! Over time, sales grew so much that the candy distributor started making deliveries in an estate,” says Hang.
In view of the economic crisis generated by the pandemic scenario, the retailer suffered a net loss of R $ 127.5 million, compared to a profit of R $ 193.9 million in the same period in 2019.
Rush for IPO
“Havan’s expansion plan is bold, and we remain firm in our challenging project to have 200 megastores operating by the end of 2022,” said the businessman. As coordinators of the offer, there are big names such as Itaú BBA, XP, BTG Pactual, Morgan Stanley, Bank of America, Bradesco BBI, Santander and Safra.
In addition to the retailer, another 40 companies are in a race to go public, with orders registered with the Securities and Exchange Commission (CVM). The forecast is that in 2020, the issue volume will reach R $ 120 billion, marking a new annual record.