Casino has launched an initial public offering (IPO) of 26.8 million shares on the US NASDAQ stock exchange for its eCommerce division, Cnova.
The shares are expected to sell for an estimated USD 12.5 to USD 14.0 per share or some USD 335 million (EUR 267) to USD 375 (EUR 300) million.
The listing comes shortly after eCommerce retailer Alibaba also launched an IPO in the US.
- Cnova reaches some 530 million shoppers across the globe through its Cdiscount, Nova Pontocom and Exito divisions and has 13 million loyal customers.
- It generated EUR 4 billion in sales in 2013.
- Casino’s online division has a leading position in France and Brazil and has recently made entries into growth markets such as Thailand, Colombia and Ivory Coast in an effort to compete with, the global retailers, Amazon and Alibaba.