Nutriplant IPO Delayed, IdeiasNet’s Yanked

Brazilian fertilizer company Nutriplant Industria e Comercio says it has postponed its IPO on the Bovespa Mais until February 13. It had planned to raise BRL28.9m-BRL37m through the sale of 2.07m shares plus an overallotment on January 30. The road show and bookbuilding processes are now underway. Nutriplant would be the first company to list on the Bovespa Mais, where small and mid-cap issuers can take up to seven years to reach the minimum 25% float. HSBC is coordinating the operation. Separately, Brazilian technology group IdeiasNet says it has canceled definitively its plans to hold a primary sale on the Bovespa, citing poor market conditions. Earlier this month, it announced the suspension of the 40m share offer for up to 60 days.