Canopus, BBM cancel IPOs

Canopus, BBM cancel IPOs

Capital Markets Corporate & Sovereign Strategy Equity IPO Rule 400 Brazil Latin America

Brazilian real estate developer Canopus and logistics company BBM Logística have cancelled their planned initial public offerings (IPO) in the wake of biofuels company GranBio also pulling a deal last week. Canopus and BBM filed for IPOs in February last year, but they both informed securities regulator CVM of their plans to cancel their offerings on Tuesday. GranBio, which produces biofuel from waste agricultural and forestry products, scrapped an IPO in favor of a more limited restricted offer

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