Market Troubles Claim ECM Victim

Market Troubles Claim ECM Victim

Brazil Equity

Votorantim Cimentos has postponed a BRL8.0bn ($3.7bn) IPO, according to people following the sale, due to rough market conditions. US Treasury volatility and EM selloffs have meant the cancellation of many bond deals in recent weeks, and Votorantim – offering what would be one of the year’s biggest IPOs – was to be a test for the new equity issue market. “The demand didn’t seem to be there for them to get the minimum amount,” says a US-based investor contacted Tuesday about the deal, joining oth

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