Brasil Travel Turismo e Participacoes' much anticipated listing on the Brazilian stock exchange has been withdrawn due to the market’s scepticism about its valuation and the company's structure.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
