(Adds chairman’s comments, background)
SANTIAGO, April 29 (Reuters) - Chilean retailer Cencosud has put on hold its plan to publicly list its shopping center unit on a stock exchange, its chairman told shareholders on Friday.
“Regarding the IPO, we see that now is not the moment to go to the market so we’re putting it on stand by ... we’ve seen other companies that have gone to the market with IPO and it has not gone well for them. We’re not in a rush,” Cencosud Chairman Horst Paulmann said at the company’s annual shareholders meeting.
Cencosud, the owner of Jumbo supermarkets, Paris department stores and the Easy home improvement chain, has operations in five South American countries. (Reporting by Felipe Iturrieta; Writing by Anthony Esposito and Gram Slattery; Editing by Chizu Nomiyama and Paul Simao)