Grupo SBF SA, owner of Brazilian sporting goods chain Centauro, has requested authorization from securities industry regulator CVM for an initial public offering, according to a report from Reuters.

Proceeds will be used to expand Centauro, Latin America’s largest retailer of sporting goods with 187 stores, according to the filing on Thursday.

According to documents filed with the regulator, the retailer had revenue of 1.3 billion reais ($397 million) and net income of 229 million reais in the first nine months of 2017.