SMU Advances IPO

Chilean retail holdco SMU has filed for an IPO, according to a banker managing the deal, aiming to price as soon as October. The portion of the company to be floated and the exact size and timing has not been determined, but the retailer is thought to be offering 18%, which could raise more than $200m equivalent. Celfin and Santander have been hired to manage the sale. SMU, which is owned by local businessman Alvaro Saieh, controls supermarket chain Unimarc, along with home improvement and convenience store chains.