SAO PAULO Dec 14 Brazilian homebuilder
Construtora Tenda SA has scrapped an initial public offering
plan due to be priced later on Wednesday, citing challenging
In a Wednesday securities filing, Tenda and sole owner
Gafisa SA said both were, "working on the analysis of
strategic alternatives for Tenda, with the main goal of
maximizing shareholder value".
Reuters reported on Dec. 12 that scant firm orders from
investment firms, pension funds and other institutional
investors could force Tenda to price the offering at the lowest
end of a suggested price tag, or seek alternatives.
(Reporting by Guillermo Parra-Bernal; editing by David Clarke)