Brazil’s Privalia suspends IPO after market volatility

The company had planned to issue 23,235,551 shares in the primary restricted offer and 20,348,837 in the secondary, in which the funds would go to the selling shareholder.

RIO DE JANEIRO, BRAZIL - Privalia has suspended its IPO due to market volatility, according to a notice to the market on Tuesday, July 20.

On Monday, July 12, the company had determined that the indicative price for its shares would range between R$16.30 (US$3.12) and R$18.10 in an operation supported by BTG Pactual.

The company was going to issue 23,235,551 shares in the primary restricted offer and 20,348,837 in the secondary, in which the funds would go to the selling shareholder.

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