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STXNEWS LATAM-Brazil's Ouro Verde scraps IPO plans
February 17, 2014 / 2:51 PM / 4 years ago

STXNEWS LATAM-Brazil's Ouro Verde scraps IPO plans

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.

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