By Luciana Magalhaes
SAO PAULO--Brazilian logistics company Vix Logistica SA
confirmed Tuesday it has decided to postpone plans for an initial
public offering of shares in Brazil.
In a regulatory filing, the company said that, given
"unfavorable local and international capital market conditions," it
was canceling the request submitted in 2012 for an IPO.
Vix also said it will keep "monitoring market conditions" to
evaluate the best manner and time to access the capital market.
The company had planned to raise up to 750 million Brazilian
reais ($369.4 million) through the IPO in April, according to a
person familiar with the situation.
The logistics company had hired Banco BTG Pactual SA
(BBTG11.BR), Itau Unibanco Holding SA (ITUB, ITUB4.BR), Credit
Suisse Group AG (CS, CSGN.VX), Banco Bradesco SA (BBD, BBDC4.BR)
and Banco do Brasil SA (BDORY, BBAS3.BR) to manage the IPO, the
person said.
Write to Luciana Magalhaes at luciana.magalhaes@dowjones.com