Voto Withdraws Cimentos IPO Registration

Voto Withdraws Cimentos IPO Registration

Brazil Equity

Brazil’s Votorantim Cimentos has officially requested the cancellation of its IPO registration in the US and Brazil, according to regulatory documents. The industrial conglomerate blames market conditions that make such a sale unlikely in the short term. An IPO remains in the issuer’s medium to long-term plans, ECM bankers say. The cancellation follows the postponement of the transaction days before the scheduled pricing in June. The cement maker was targeting more than BRL8.0bn ($3.49bn) in the

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