SAO PAULO (Bloomberg) — San Antonio Internacional Ltd., a Bermuda-based oil and gas services provider, cancelled plans to sell depositary receipts through an initial public offering in Brazil.

San Antonio posted the cancellation on the website of Brazil's securities regulator. The company registered to sell the depositary receipts in August to repay debt and expand operations.

San Antonio, partly owned by private equity company GP Investments Ltd., didn't specify the price or number of shares it planned to sell.