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NYSE warns Brazilian retailer GPA for late filing on results

Reuters
·1 min read

SAO PAULO, May 21 (Reuters) - Brazilian food retailer GPA SA said it was warned by the New York Stock Exchange about its delay to file the 20F report related to 2019 results.

In a securities filing late on Thursday, GPA, controlled by France's Casino Guichard Perrachon, said the company is waiting for its former subsidiary Via Varejo SA to republish its 2017 and 2018 results, applying the International Financial Reporting Standards 16.

GPA sold all its stake in Via Varejo last June, to a group of investors. In the filing, GPA said it was notified on May 18 by the New York Stock Exchange that it was not compliant with the rules for a NYSE listing.

GPA's American Depositary Receipts will begin trading at the NYSE on May 22 with a warning on late filing.

GPA added it has not yet received consent from Via Varejo for the auditors to review its 2018 and 2017 financial statements applying IFRS 16. (Reporting by Tatiana Bautzer)