March 19, 2020 |
Hidrovias do Brasil, a waterway logistics company based in São Paulo, said late Tuesday that it decided to postpone an initial public offering (IPO) "due to the deterioration of the current market situation."
Hidrovias becomes the fourth company this month to put off plans to list shares on the B3 stock exchange in São Paulo. The company said on February 20 that it could raise as much as BRL1.72 billion ($334 million) in the IPO, when the Ibovespa index on the B3 stood at 114,586 points.
Brazilian waterway operator becomes the fourth company to delay a planned share sale this month