InterCement Halts $1 Billion IPO of Brazilian Operations Jul 15 2021, 5:08 PM July 15 2021, 5:07 PM July 15 2021, 5:08 PM (Bloomberg) -- Brazilian cement maker InterCement Participacoes SA suspended the initial public offering of its local unit that was expected to raise as much as $1 billion, citing unfavorable market conditions. (Bloomberg) -- Brazilian cement maker InterCement Participacoes SA suspended the initial public offering of its local unit that was expected to raise as much as $1 billion, citing unfavorable market conditions. InterCement struggled to find investors to buy its shares within the marketed range of between 18.20 to 25.50 reais each, according to people familiar with the matter, who asked not to be named because the information isnât public yet. Investors signaled interest on the deal below that range, but the company resisted lowering prices, one of the people said. The postponing of the deal, that was scheduled to price Wednesday, was confirmed in a company filing.