Cosan cancels IPO of subsidiary Compass due to market conditions


Cosan (Photo: Paulo Fridman / Corbis via Getty Images)

SAO PAULO (Reuters) – Cosan (CSAN3) announced on Monday that it will request the cancellation of the registration request for the initial offering of shares of its subsidiary Compass Gás e Energia (IPO), citing “the deterioration of market conditions ”.

The energy and infrastructure group had requested approval from the Brazilian Securities and Exchange Commission (CVM) for Compass’ IPO at the end of July, in an operation that was to be priced on Monday and could move almost R $ 4.4 billion.


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