July 16, 2021 |
Brazilian cement company InterCement interrupted plans on Wednesday to carry out an initial public offering (IPO) as "a consequence of the current market environment [which is] unfavorable to the implementation of the offer," according to a securities filing.
InterCement had filed for an IPO less than two months ago, aiming to raise up to BRL5.1 billion ($998 million) and at least BRL2.7 billion.
The company had hired Bradesco BBI to lead the IPO with Itaú BBA, UBS BB and Bank of America as the
Mover's cement business cancels plans to list up to $1 bln in shares in its market debut due to unfavorable conditions