Assai Atacadista, One of the Largest Retail Companies in Brazil, Gets Listed on The New York Stock Exchange
Brazilian retailer Assaí Atacadista (NYSE: ASAI) began trading its American Depositary Shares on the NYSE on March 8, 2021, following a split-off from CBD. This move aims to enhance liquidity and visibility in the international market. In the last quarter of 2020, Assaí recorded a net profit of R$299 million, a 31% increase year-over-year. Its gross income surged by 30% to R$39.4 billion, bolstered by a robust expansion strategy and the opening of new stores, including 28 planned for 2021.
- Net profit increased by 31% year-over-year, reaching R$299 million.
- Gross income rose 30% to R$39.4 billion, adding R$9 billion in sales.
- EBITDA grew by 38.4% to R$2.7 billion.
- Plans to open 28 new stores in 2021 and 25 each year until 2023.
- Company is investing in clean energy with 11% of energy consumption from renewable sources.
- None.
SÃO PAULO, March 8, 2021 /PRNewswire/ -- Brazilian retailer Assaí Atacadista (NYSE: ASAI) starts on March 8 the trading of its American Depositary Shares (ADSs) in the New York Stock Exchange (NYSE), under the "ASAI" ticker. After the split-off from CBD, concluded this month, the self-service retail company will operate more independently, focusing on its business model and on its own market opportunities. The Company's board will participate in the symbolic online ceremony celebrating the listing of the ADSs on the 9th.
Assaí, controlled by French Group Casino is the second largest retail company in Brazil in gross income and the only Cash&Carry listed in the Brazilian stock exchange. Assai debuted in the country in March 1, 2021. Its stocks soared almost
"The NYSE listing represents an opportunity for increasing liquidity, visibility and for Assaí's shares to increase value in the international market.Also, this is yet another commitment the Company has taken toward a Corporate Governance model more aligned to global good practices", says Gomes, Assaí's CEO.
Giant in numbers
Assaí recorded net profit of R
Assaí's gross income recorded a
Winning model
According to Gomes, the company's model, combining low prices and serving both shopkeepers and the end customer, contributed to its success. "The wholesale and retail combination segment are the channel with the highest participation levels in the supply of food in Brazilian homes and is present in
Assaí still is a reference in Brazil for its investments in clean energy. In 2019,
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SOURCE Assai Atacadista
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