- Brazil's JBS SA, the global leader in the meatpacking industry, has withdrawn its planned initial public offering, which it first proposed in May. The IPO would have spun off the company's pork, poultry, and food operations in Brazil into a separate company, JBS Foods.
- JBS already withdrew the proposed IPO three other times, including on a Friday in October but then proposed the IPO again on the following Monday.
- A New York Times source cited poor Brazilian market conditions as the reason for the withdrawal. According to The New York Times, "Brazil’s currency, the real, has fallen nearly 30 percent against the dollar since the JBS Foods I.P.O. was first announced last May."
JBS is not the only Brazilian company to withdraw a planned IPO this year. Brazilian airline Azul also withdrew its IPO proposal in January, showing that in just two months, Brazil is not looking to be a favorable market for IPOs in 2015.