Turbulence Grounds Azul IPO, Concerns Others

Aug 20, 2013

Brazil’s Azul has cancelled registration for an IPO, according to the CVM, as difficult market conditions challenge Brazilian equity issuers who have been counting on a peaceful September. The long-awaited IPO of the Brazilian airline – said to target as much as BRL1bn ($415m) – was to include local and SEC-registered portions. “The market is very difficult at...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management