Metalfrio Nixes Equity Plan

Brazilian fridge and freezer maker Metalfrio has filed an official statement withdrawing its plans to issue shares in a follow-on of 31m shares that would have raised it BRL341m at Tuesday’s closing price of BRL11.01. The deal was slated to include 17m primary shares and 14m secondary shares. Credit Suisse, Itau BBA and Morgan Stanley have the leads for the pulled deal. In a statement with the CVM, says it will remain focused on developing further synergies from earlier investments, keep an eye out for market opportunities and cash management, obtain new clients and grow its business. It does not suggest an M&A deal is in the works.