Tenda scraps IPO

Tenda scraps IPO

Brazil Equity M&A

Brazil's Tenda said it has canceled an IPO that was expected to price on Wednesday, citing an "unfavorable market environment."Political volatility in Brazil and the timing of the offering were brought into question this week, after the bookrunners extended the book building process by an extra day, one equity capital markets source said. "Investors are not really in a risk-taking mood," the source said. "The Brazilian government has come under fire this week and this raised concern for inv

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