Brazil's Vix Logistica pulls IPO plans on 'unfavorable market'

SAO PAULO Tue Jan 15, 2013 1:56pm EST

SAO PAULO Jan 15 (Reuters) - Brazilian transport logistics company Vix Logística SA canceled on Tuesday a plan to list its shares on the São Paulo Stock Exchange, citing "unfavorable market conditions."

On Friday, Reuters reported that the company had decided to shelve plans for an initial public offering this year because of lukewarm demand. Vix had hired the investment banking units of Itau Unibanco Holding SA, BTG Pactual Group , Credit Suisse Group, Banco do Brasil SA and Banco Bradesco SA to handle the transaction.

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