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Four Brazilian companies canceled their IPOs as appetite waned | Instant News


SAO PAULO, October 14 (Reuters) – Four Brazilian companies have scrapped their plans to go public, according to a securities filing on Wednesday, as investors worry about excessive government spending and face the largest lineup of initial public offerings in more than a decade.

The companies are digital home rental platform Housi, drug maker Elfa, homebuilder Patrimar and energy trading firm 2W.

2020 has been Brazil’s busiest IPO year since 2007, when 64 companies were listed. But many plans have been put on hold in recent weeks on concerns about the country’s fiscal discipline and an oversupply of new equities.

Investment banking BR Partners and state-controlled insurer Caixa Seguridade SA decided to cancel their IPOs earlier this year, while other companies such as logistics firm Sequoia and drugstore chain Pague Menos had to cut their ratings to attract investors before listing.

Reporting by Aluisio Alves; Written by Carolina Mandl; Edited by Richard Chang

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How Brazil Became a Hot Market for IPOs | Instant News


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