Perenco Cancels IPO Shelf

Perenco Cancels IPO Shelf

Brazil Equity

Brazil’s Perenco e Gas do Brasil Participacoes officially has revoked its IPO registration after pulling a planned deal in July. The Brazilian unit of UK-based oil exploration company Perenco, which cited market conditions for the decision not to move forward, had planned to sell 0.4m primary shares at BRL1,550-BRL2,000, meaning a deal of perhaps BRL830m ($530m). Perenco, which operates in 16 countries worldwide, had planned to use the funds to develop its 5 blocks in the Espirito Santo Bas

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