Airline Puts Off IPO

Brazil’s Webjet has cancelled its IPO registration, according to the CVM. It does not give a reason for postponing the all-primary share sale. The size of the offer had not been communicated. Bradesco, Citi and JPMorgan had been picked to manage the sale. The deal follows BrasilAgro, Desenvix Renovaveis and Karoon Petroleo e Gas in recently cancelled IPO or follow-on registrations, as issuers wait for better market conditions.