Brazil sporting goods company Centauro files for IPO

Brazil sporting goods company Centauro filed for an initial public offering on Monday, according to a securities filing.

The company will issue new shares to finance the opening of new stores and reduce leverage.

The filing did not disclose a range for the pricing of shares or the number of shares to be sold.

The IPO will be managed by Bradesco BBI, Itau BBA, BTG Pactual, Goldsman Sachs, BB Investimentos and Credit Suisse.

Centauro posted a net income of 148.7 million reais in 2018, down 38.3 percent from the previous year. Still, its revenue grew by 15.6 percent over the same period, to 2.3 billion reais.

Centauro, which filed with its formal name Grupo SBF, had already filed for an initial public offering in November 2017. But the company gave up due to market conditions and did follow through with the needed documents.