RIO DE JANEIRO — The Carrefour Group, a French retailing giant, said on Wednesday that its Brazilian subsidiary had priced an initial public offering of stock at the bottom of its expected price range, a sign of the uncertainty plaguing Latin America’s largest economy.
The initial public offering of Atacadão, the parent company of Carrefour Brasil, is the biggest in Brazil in recent years, and it is the first since President Michel Temer was implicated in an continuing corruption investigation in May, unnerving investors.
While the pricing showed that investors remain cautious, that the offering was moving forward was seen as a benefit for a nation bedeviled by prolonged political and economic upheaval.
Including an overallotment of shares, Atacadão raised roughly $1.6 billion in the offering, which was priced at 15 reais a share, or $4.73, at the bottom of a previous range of 15 to 19 reais.
The offering values the company at $9.43 billion. The Brazilian…