Miner Cancels IPO Plan

Manabi, a pre-operational Brazilian iron ore miner, has withdrawn its plans to raise funds through an IPO, it says. The company founded last year had filed in May for an all-primary share offer to raise funds to develop its Morro Pilar and Morro Escuro projects in the state of Minas Gerias. The offer was never launched, joining a handful other Brazilian deals which had targeted a pricing in the June-July window. Credit Suisse, Goldman Sachs and Itau were managing the sale.