(Removes reference to Brazilian capital in fourth graf)
By Joan Magee
NEW YORK, Oct 8 (IFR) - Brazilian infrastructure groupInvestimentos e Participacoes em Infraestrutura (Invepar) isplanning a BRL2bn (USD908m) initial public offering that maylaunch at the end of January and price in early February, abanker on the trade said on Tuesday.
The IPO has been in the works for around two years, but thecompany is now pushing ahead as the World Cup and Olympics drawcloser, with marketing for the deal likely to start as soon asDecember.
Rio de Janeiro-based Invepar is controlled by Petros, thePetrobras employee pension fund workers, along with Previ, theemployee pension fund of state-owned Banco do Brasil and Funcef,the state-owned bank Caixa Economica Federal.
It won the concession to run the Sao Paulo internationalairport, which is expected to see traffic increase substantiallyduring the 2014 World Cup and the 2016 summer Olympics.
The outfit also owns the right to operate the Rio de Janeirosubway system and various lucrative toll roads.
"This deal, once all the paperwork and groundwork is laidout, should not be a difficult one to price, depending on howfriendly market conditions are when it decides to come tomarket," said a senior ECM banker in Sao Paulo.
Bank of America Merrill Lynch, Banco do Brasil, BTG Pactual,Bradesco, Citi, HSBC and Itau have been mandated to prepare thelisting, which would be a relatively large IPO in Brazil's weakequity market that has tumbled more than 14% this year.
Brazil has seen 19 equity issues price this year, for atotal of USD9.9bn, or 41.8%. Out of those, there were just fiveIPOs.
The biggest IPO globally this year was for insurance companyBB Seguridade, which priced a BRL11.48bn (USD5.75bn) deal inApril, selling 675m shares at BRL17 each.
The sole blowout of the year out of Brazil was softwarecompany Linx, which priced a R$527.9m (US$265m) at R$27 IPO inFebruary, at the top of the indicative R$23-$27 range.
The company was considered by investors to be a purelyBrazilian deal as it has not yet diversified to other markets.It was 20 times oversubscribed, banking sources said. (Reporting by Joan Magee; Editing by Natalie Harrison)