(1888PressRelease)
February 27, 2008 - According to new report compiled by Citigroup just one deal worth £14 million has been enacted during the last quarter.
The downturn comes after the number of companies listing on Brazil's exchanges hit a record of 63 last year, raising a total of $30.8 billion.
This represented more than two-fold growth compared with the preceding year when 26 deals were completed.
Geoffrey Dennis, Latin American strategist at Citigroup, told Marketwatch.com: "The Brazilian IPO market has virtually ground to a halt.
"As market volatility has increased over the last three months, the pace of Brazil's IPO activity has slowed to a trickle."
Last year the IPO sector in Brazil was buoyed by large listings such as Brazilian Stock Exchange operator Bovespa Holding SA and the commodities and futures exchange Bolsa de Mercadorias & Futuros.
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