SAO PAULO, Oct 14 (Reuters) - Four Brazilian companies have canceled their plans to go public, according to securities filings on Wednesday, as investors worry about government overspending and face the largest lineup of initial public offerings in more than a decade.
The companies are digital house rental platform Housi, drugmaker Elfa, homebuilder Patrimar and energy trading firm 2W.
2020 had been shaping up to be Brazil’s busiest IPO year since 2007, when 64 companies were listed. But many plans have been shelved in recent weeks amid concerns about the country’s fiscal discipline and a surfeit of new equity supply.
Investment banking BR Partners and state-controlled insurance company Caixa Seguridade SA decided to abort their IPOs earlier this year, while other companies such as logistics firm Sequoia and drugstore chain Pague Menos had to cut their valuation to attract investors before listing.
Reporting by Aluisio Alves; Writing by Carolina Mandl; Editing by Richard Chang
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