April 8, 2021 |
Brazilian software developer LG Informática said Wednesday that it postponed its planned initial public offering (IPO) for 60 days due to adverse market conditions that would impact the pricing of the shares.
LG put off the primary and secondary offerings "in view of the current unfavorable conditions in the financial and capital markets," it said in a securities filing.
LG filed for an IPO in February and hired Itaú BBA as the lead coordinator with UBS and BTG Pactual as the other bookrunners.
Brazilian software developer delays its market debut due to adverse market conditions