Cagece calls off stock market debut

Cagece calls off stock market debut

IPO Capital Markets Equity Project & Infrastructure Finance Brazil

Cagece, a water and wastewater company owned by the Ceará state government, has called off plans for an initial public offering (IPO), more than a year after it announced its intention to list shares on the B3 stock exchange in São Paulo. Cagece said in a filing on Tuesday that it asked the securities regulator CVM to withdraw its application, but it did not give a reason for the change in plans. It added, however, that an IPO "remains in its plans." The state-owned company said in December 2019

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