Abril Educacao could raise $427 mln in Brazil IPO?

Abril Educacao seeks 21.75 reais-26.75 reais price tag

* Company is education unit of Brazilian media group

* IPO boom comes amid wave of rising risk aversion

Make Money Blog$;SAO PAULO, Brazil's Abril Educacao, a company that provides college entrance exam preparation courses, and its stockholders could raise as much as 670 million reais ($427 million) in an initial public offering, according to a newspaper advertisement on Wednesday.

The stock will be sold as unit shares, each representing one common share and two preferred shares, said the Sao Paulo-based company, which is part of the Abril media and publishing group.

The company offered to sell 18.56 million units in a primary offering, while shareholders will tender their stock through the additional and supplementary lots in a secondary offering, said the note published in O Estado de S. Paulo newspaper.

The company expects the IPO to price between 21.75 reais and 26.75 reais.

Members of Sao Paulo's Civita family and Abrilpar, which controls Abril Educacao, BR Educational and BR Investimentos, which runs private equity fund FIP Brasil de Governanca Corporativa, plan to sell shares in the secondary offering.

Abril Educacao hired the investment banking units of Credit Suisse Group (CSGN.VX), JPMorgan Chase & Co. (JPM.N), Itau Unibanco (ITUB4.SA) and Banco Bradesco (BBDC4.SA) to handle the offering.

The issue is expected to price as early as July 21, and the shares will begin trading on the Sao Paulo exchange on July 26, under the symbol "ABRE11."

($1=1.570 reais) (Reporting by Vivian Pereira and Luciana Lopez; Editing by Guillermo Parra-Bernal, editing by Dave Zimmerman)

source:http://in.reuters.com/
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