Mall Operator Joins IPO Queue

Sonae Sierra, the Brazil-based mall operator, has filed a prospectus to go public. The company claims to be the country’s third largest mall operator with properties in Sao Paulo, Brasilia and Manaus, among others. It is also building new shopping centers in three new medium-sized Brazilian cities. Total adjusted 2009 Ebitda clocked in at BRL104.4m, up from BRL80.5m in 2008, according to a preliminary offering document filed with the CVM. Credit Suisse and Itau BBA were hired to lead.