Kalunga, Rodobens cancel IPOs

Kalunga, Rodobens cancel IPOs

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

Brazilian office supplies retailer Kalunga and auto finance group Rodobens have cancelled their planned initial public offerings (IPOs) in the face of ongoing volatility on the B3 stock exchange in São Paulo. Kalunga filed to make an offering in December and said it would use the proceeds to open new stores, expand copy and printing services in its existing stores and open a distribution center in the northeast. Rodobens filed to issue Brazilian depository receipts (BDRs) and said it planned to

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