Cencosud S.A., a multi-brand retailer in South America operating 826 stores through supermarkets, home improvement stores, shopping centers and department stores, filed on Friday with the SEC to raise up to $718 million in an initial public offering. The company anticipates using the proceeds to repay debt and acquire the remaining 38.6% of shares of subsidiary Jumbo Retail Argentina currently held by UBS AG London Branch.

The Las Condes, Santiago, Chile-based company, which founded its first supermarket in 1960, booked approximately $15.6 billion in sales for the 12 months ended 3/31/2012. Cencosud S.A. plans to list its ADSs on the NYSE under the symbol CNCO and is currently listed on the Santiago Stock Exchange, the Bolsa Electronica de Chile and the Valparaiso Stock Exchange under the ticker CENCOSUD. J.P. Morgan and UBS Investment Bank are the joint bookrunners on the deal. No pricing terms were disclosed.