August 5, 2020 |
Brazilian homebuilder You Inc said Tuesday that it cancelled an initial public offering (IPO) for a second time, again citing the "current market situation" for the decision.
You Inc was hoping to raise up to BRL1.3bn ($246 million) from the sale of 55.2 million shares after setting a target price range of between BRL17.50 to BRL23.50 per share in July.
The São Paulo-based developer decided to cancel the offering after failing to generate sufficient demand for the shares and was unwilling to red
Brazilian homebuilder receives more than $90 mln in reservation requests, but cites market conditions for its decision