Desenvix Pulls IPO Shelf

Desenvix Energias Renovaveis has withdrawn its IPO filing, according to the CVM. The Brazilian renewable power generation developer and operator had filed in October and was one of about 10 issuers awaiting launch in what has been a tricky year for new deals. Desenvix had not given an indication of the size of the primary and secondary sale. BTG, JPMorgan and Santander were hired as managers. Desenvix was seeking funding for a 2011-2015 project pipeline. As of September 30, it had 47 projects throughout Brazil totaling 3.2 gigawatts of generation capacity, mostly in the small hydroelectric space. Desenvix is controlled by Jackson Emprendimentos, a holdco for Desenvix and sister units Engevix, an engineering contractor, and Econvix, a builder of offshore oil and gas installations. Pension fund FUNCEF also holds a 25% stake in the company.