Brazilian food maker M Dias Branco has announced that it will suspend its planned sale of BRL600m (US$333m) of new shares.

In a statement released yesterday (22 January), the pasta-to-cookies manufacturer attributed the move to "unfavourable capital market conditions."

The secondary share issue had been announced in December.

Shares in the company closed yesterday at BRL42.70, up slightly from an opening price of BRL42.60.