Brazilian home-appliances retailer Lojas Le Biscuit SA is reportedly considering Initial Public Offering (IPO) this year.

Bloomberg reported citing people familiar with the development that the plan is still in the negotiation stage and may not lead to an IPO.

If realised, the transaction could see the retailer raise about BRL1.5bn ($267m). Further details about the deal have not been disclosed by the sources.

Lojas Le Biscuit has appointed investment firm XP Investimentos, Bank of America, Itau BBA, Citibank and Santander to support its deal.

Founded in 1968, Le Biscuit has more than 120 stores across 14 Brazilian states.

Under 2019 earnings filing, Brazilian asset-management and private equity firm Vinci Capital Partners holds a 45.4% stake in the firm.

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Recently, several Brazilian firms have revealed plans to launch an IPO. According to Bloomberg complied data, nearly ten firms that include supermarkets and pet retailers have announced such plans in the last two weeks.

Havan, a Brazilian department store chain, reportedly hired banks for the IPO this year, reported Reuters this weekend. The offering will be used for store expansion and could see the sale of a certain interest in the company.

The chain sells goods that range from electronic, clothes to houseware.

In June, online used car retailer Vroom reportedly raised $467.5m during its US IPO amid the coronavirus pandemic.