July 19, 2021 |
A rash of cancelled initial public offerings (IPOs) in recent days has dampened investor enthusiasm in the Brazilian stock exchange and led some analysts to wonder if the tide has turned after a dynamic first half of the year.
"We do not have a clear blue sky anymore, far from it. The market has become cautious," said a CFO in Brazil who asked to remain anonymous.
After fitness center chain Smart Fit raised BRL2.3 billion ($450 million) in an IPO last week and Companhia Brasileira do Alumínio (C
Low interest rates at home and high liquidity abroad means the market is still open, but smaller issuers may give up as investors become more choosy, sources say