Cia Estadual de Aguas & Esgotos, a Brazilian water and sewage utility, may postpone its initial public offering, the Wall Street Journal reported, citing two people close to the situation.
Executives of the company will meet lawyers today to discuss pushing back the proposed IPO, the Journal said in the article without disclosing the sources.
Cedae, as the company is known, in October filed an application with the local financial regulator Comissao de Valores Mobiliarios for the 1.6 billion-real ($784 million) share offering, according to the article.
To contact the reporter on this story: Stephan Nielsen in Sao Paulo at email@example.com
To contact the editor responsible for this story: Reed Landberg at firstname.lastname@example.org