Anbima sees Brazil equity offerings resuming only next year
SAO PAULO Oct 7 (Reuters) - The backlog for Brazilian initial public and follow-on offerings remains robust at the moment, but sales will only resume next year as companies remain wary of market and political unucertainty, a group representing investment banks said on Tuesday.
A number of offerings expected for this year may have to wait until next year, when the outlook for the economy turns clearer, said Carolina Lacerda, a director for the capital markets chapter at Anbima, as the group is known.
She said a recent change in rules governing restricted-efforts offerings will likely boost listing activity for small- and mid-sized companies in coming months. Public offerings with restricted efforts differ from standard equity offerings in that a company does not have to request registration of the plan with the securities industries watchdog CVM, only qualified investors can participate, and the deals cannot be marketed through road shows or the media. (Reporting by Guillermo Parra-Bernal; Editing by Chizu Nomiyama)
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