Brazilian autos fleet outsourcing provider Ouro Verde Locação e
Serviço SA said on Monday it had called off plans for an initial
public offering, scrapping the only share offering that was
under analysis by securities regulator CVM.
Ouro Verde had already postponed its plans in August for an
IPO worth about $400 million, Thomson Reuters service IFR
reported at the time.
Stock offerings in Brazil are off to their worst start this
year in more than a decade, as no new plans for an IPO or
follow-on sale have been filed with CVM so far this year.