Valuation and structural issues keep Brasil Travel from listing -

Banking strategies / Investment banking

Silvia Pavoni | 13/02/2012 1:41 pm

Brazilian tourism company Brasil Travel Turismo e Participacoes has withdrawn its plans for an initial public offering (IPO) on the Brazilian stock exchange, leaving uncertainty as to when IPO activity in the country will resume again.

Brasil Travel Turismo e Participacoes' much anticipated listing on the Brazilian stock exchange has been withdrawn due to the market’s scepticism about its valuation and the company's structure. Some analysts believe this is not necessarily a reflection of investors’ sentiment towards Brazilian equities, a market that has not seen an initial public offering since July 2011.

The other company that has recently filed with the Brazilian securities and exchange commission, CVM, ahead of a possible listing is Seabras Servicos de Petroleo, the Brazilian unit of Norway-based global oil services company SeaDrill.

For more information on this news story, see the previous article - Brasil Travel re-opens Brazilian IPO market

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