April 26, 2018 / 1:12 PM / 6 months ago

Brazil shoemaker Dass cancels IPO on weak demand: source

SAO PAULO (Reuters) - Brazilian shoemaker Dass Nordeste Calçados e Artigos Esportivos SA has decided to cancel its initial public offering because of weak demand, according to a source familiar with the matter.

Dass expected to raise about 1 billion reais ($287 million) on Thursday, considering a price in the middle of the range.

Healthcare providers Notre Dame Intermédica Participações SA (GNDI3.SA) and Hapvida Participações e Investimentos SA (HAPV3.SA) went public this week in the first successful listings of the year on the São Paulo stock exchange.

But three other Brazilian companies have called off IPOs this year as uncertainty about the October presidential election unsettles investors.

Another IPO expected to price on Thursday is Brazilian online lender Banco Inter SA.

Reporting by Tatiana Bautzer; Editing by Steve Orlofsky and Lisa Shumaker

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