LONDON, Feb 29 (Reuters) - BTG Pactual, the Brazilian securities firm owned by billionaire financier Andre Esteves, has mandated Goldman Sachs and JPMorgan to help manage its initial public offering, the Financial Times reported on Wednesday.
BTG will also manage the IPO, which is expected to value the Sao Paulo-based company at $13 billion to $14 billion, according to people familiar with the matter cited by the newspaper.
It’s expected to file its prospectus with regulators as early as this week, the FT said.
The IPO filing would list 10 percent of the company, according to a Bloomberg report, cited by the FT report.
It would be followed by pricing in the next two months, probably in April, one person familiar with the matter told the FT.
BTG could not be immediately reached for a comment.
BTG Pactual, a powerhouse that Chief Executive Andre Esteves and his partners formed when they bought back Banco Pactual from UBS AG in 2009, has been the subject of speculation over a potential initial public offering.
Esteves and partners have long considered an initial public offering to bulk up the bank’s capital, but previously postponed the plans because of volatility in global markets.
Esteves has set himself the goal of making BTG Pactual the largest securities firm from an emerging-market country by the end of the decade.
Earlier this month, BTG Pactual bought Chilean rival Celfin Capital for about $600 million, which cemented its position as Latin America’s biggest homegrown securities group.