Shares in discount chain Dia are set to be listed in Spain in July, French retail giant and parent company Carrefour has revealed.
Carrefour announced on Friday (13 May) that it had completed the first stage of the process to list Dia on the Spanish stock exchange, the CNMV.
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The company has received regulatory approval for the move to list Dia in Barcelona and revealed that the prospectus for Dia is now available. The discount retailer is due to start trading on 5 July, subject to approval from Carrefour’s shareholders and the approval of Dia’s prospectus by the CNMV.
Announcing the news, Carrefour highlighted the strength of the Dia brand in the hard discount sector. It is the third-largest hard discounter with a strong presence in emerging markets, Carrefour said.
“The hard discount industry benefits from powerful growth dynamics, backed by both supportive demographics and favourable socio-economic trends,” Carrefour said. “Dia benefits from the necessary assets to seize all profitable growth opportunities offered by the sector.”
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By GlobalData
