Chilean retailer, Cencosud, has unveiled plans to sell nearly $2 billion of new shares to help finance growth, Financial Times reports. Cencosud, which also has operations in Brazil, Argentina, Colombia and Peru, is required to use at least 10% of the capital increase for employee stock options. The company has nearly three years to carry out the capital increase, which is equal to about 12% of its current market capitalization. The company will be investing $1 billion in Latin America this year.
Click here for the story from Financial Times.
Click here for additional coverage from Reuters.