Copersucar, Los Grubo postpone Brazilian IPOs, citing market conditions

In Brazil, agricultural companies Copersucar SA and Los Grobo SA postponed previously announced initial public offerings, causing even more concern over a slump in the region’s largest equity market.

Copersucar’s sale, which was sale was slated to raise up to US$1.7 billion, will be delayed for 60 business days due to “unfavorable” market conditions. At least eight other companies have also announced plans to defer first-time sales in Brazil this year.