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Tuesday, February 7, 2023
HomeEconomyPanel SA: Lupo plans to invest in a factory in the Northeast...

Panel SA: Lupo plans to invest in a factory in the Northeast after giving up on the IPO

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São Paulo

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Lupo must advance, in the coming weeks, in the plan of a new factory in the Northeast. The company called a shareholders’ meeting on the 22nd to approve the investment.

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The socks and underwear manufacturer recently suspended its intentions to go public on the Stock Exchange, after applying for registration of the IPO in August with the CVM (Securities Commission) to expand its business.

The company’s retreat came in the wake of the news about the hole in the spending ceiling by the government to accommodate the R$ 400 aid in Brazil.

Lupo still has no forecast to resume the process.

with Mariana Grazini e Andressa Motter

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