February 7, 2018 / 12:54 PM / 6 months ago

Brazil's Blau Farmaceutica decides to postpone IPO - source

SAO PAULO, Feb 7 (Reuters) - Shareholders of Brazil's Blau Farmaceutica decided on Wednesday to postpone its initial public offering (IPO) due to weak demand, according to a person with knowledge of the decision.

Brazilian pharmaceutical company had planned to raise around 750 million reais ($231 million) in the offering, which was scheduled to price later on Wednesday. A plunge in U.S. stocks has roiled global financial markets in recent days, and the source said shareholders did not want to cut the suggested share price for the IPO.

$1 = 3.24 reais Reporting by Carolina Mandl

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