Brazil Cosan IPO Suspended

Brazil’s securities market regulator, CVM, has issued a two-week suspension of the flotation of the country’s largest sugar and ethanol producer, Cosan SA, citing a violation of the “quiet period”. This period forbids a company from making a public statement regarding its offering. Cosan’s shares were due to be listed on Bovespa this Thursday. The IPO is aimed at local and foreign investors. The offer is being arranged by Morgan Stanley.