IRB-Brasil IPO delayed again

Banco Bradesco and Itaú Unibanco, the Brazilian banks behind
former state-owned reinsurer IRB-Brasil Re's initial public
offering (IPO), have applied to the country's stock exchange to
delay the listing.
In statements released last night (23 November) from both banks,
the backers have asked for a 60-day extension for the listing
without disclosing any reasons for the delay.
Itaú and Bradesco have 15 percent and 20 percent stakes in
the IRB respectively, with competitor state-contro