Mexican homebuilder Javer postpones IPO due to market conditions
MEXICO CITY Dec 14 (Reuters) - Mexican homebuilder Javer postponed its initial public offering planned for Monday due to market conditions, the firm said in a statement.
The announcement came after Mexican markets were pummeled by a slump in global oil prices and an impending rate decision by the U.S. Federal Reserve, sending the peso to a nadir and the benchmark IPC stock index to its lowest in nearly four months.
The IPO "will be relaunched once market conditions permit," Javer said.
The firm, one of Mexico's biggest home builders, said in a prospectus filed last week that it hoped to raise up to 2.3 billion pesos ($133 million) through an IPO, including an over-allotment options, lower than its initial projections in March.
($1 = 17.3345 Mexican pesos) (Reporting by Anna Yukhananov and Jean Luis Arce; Editing by Cynthia Osterman)
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