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Bicapital cancels US IPO

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Bicapital cancels US IPO

Bicapital Corp. SA has canceled its initial public offering in the U.S., according to a Sept. 12 securities filing.

Bicapital, which is headquartered in Guatemala but whose registered office is in Panama, said that it did not sell any security in connection with the offering. The company did not elaborate on the reason for ending the IPO, which had a proposed maximum offering price of $345 million.

The financial group, whose units include Banco Industrial SA, Seguros El Roble SA and Banco del País SA, first filed for its U.S. IPO in May 2015. Last year, it removed J.P. Morgan as an underwriter for the IPO.