BV abandons IPO again

BV abandons IPO again

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

Banco BV, a banking joint venture between Banco do Brasil and Votorantim Finanças, cancelled its planned initial public offering (IPO) on the B3 stock exchange in São Paulo due to market volatility just over a year after scrapping a similar offering. BV, formerly known as Banco Votorantim, filed a request to cancel its planned IPO with Brazilian securities regulator CVM due to "the current market environment," it said in a filing. The 50-50 joint venture abandoned plans for an IPO in March last

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