According to Bloomberg:
The IPO was canceled on continued “unfavorable market conditions that caused the postponement of the offering on July 20,” Copersucar said in an e-mailed statement. “The company plans to resume IPO plans at a later date.”
At least nine companies have shelved IPOs in Brazil this year, data compiled by Bloomberg and the securities regulator show. Eight of the 10 that had IPOs priced them at the bottom of projected ranges or below. Brazil’s benchmark Bovespa index fell 16 percent this year into a bear market on July 27, after dropping 20 percent from its bull-market peak in November 2010.”
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