SAO PAULO (Reuters) -Brazilian chemical firm Unigel said on Thursday it had no plans to launch an initial public offering in the short term, after newspaper Valor Economico reported that Unigel could soon go public in Singapore.
Unigel’s creditor-approved business plan “allows for the listing of existing shares, not a public offering as mentioned in the article,” the company said in a statement.
Last month Unigel, whose businesses include fertilizers and acrylics, wrapped up a restructuring of 5.1 billion reais ($885.2 million) in debt.
Valor had initially reported, citing sources, that Unigel planned to launch an IPO in Singapore in three to six months.
($1 = 5.7617 reais)
(Reporting by Andre Romani; Editing by Kylie Madry and Leslie Adler)
