December 17, 2018 / 6:34 PM / 3 months ago

Brazilian bank BMG cancels IPO pricing, will analyze alternatives -sources

SAO PAULO, Dec 17 (Reuters) - Brazilian bank BMG SA on Monday decided to cancel the pricing of an initial public offering that was expected later in the day, three sources with knowledge of the matter said.

The bank’s shareholders decided not to reduce its pricing range after lukewarm interest, mainly from international investors. Shareholders will decide whether to pursue an IPO again or other strategic transaction next year, one of the sources said. All three requested anonymity because they were not authorized to discuss the matter publicly. BMG declined to comment on the matter. (Reporting by Tatiana Bautzer and Carolina Mandl; Editing by Dan Grebler)

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