Hygo Energy Transition, which provides integrated downstream liquefied natural gas solutions in Brazil, withdrew its plans for an initial public offering on Wednesday. It had filed to raise $450 million by offering 23.1 million shares at a price range of $18 to $21, but postponed ahead of its pricing in September 2020.
The Hamilton, Bermuda-based company was founded in 2016 and booked $44 million in revenue for the 12 months ended June 30, 2020. It had planned to list on the Nasdaq under the symbol HYGO. Morgan Stanley, Goldman Sachs, Citi, Barclays, BofA Securities, BTG Pactual, BTIG, Credit Suisse, Itau BBA, UBS Investment Bank, and XP Investimentos were set to be the joint bookrunners on the deal.
