Brazil, the world’s best-performing equity market, has more companies canceling initial public offerings than any nation except the U.S. after 66 percent of last year’s new stocks were money-losers. Norse Energy do Brasil SA, Banco Fibra SA, PST Eletronica SA and 17 other companies in Latin America’s biggest economy postponed or withdrew IPOs in 2008, according to data compiled by Bloomberg. So far this year, three Brazilian companies went public, raising 780 million reais (USD 473 million), compared with 59 that sold 53.2 billion reais of new equity in 2007. (Bloomberg)

About the author

Join the Discussion