March 6, 2018 / 4:22 PM / 8 months ago

UPDATE 1-Brazilian toy retailer Ri Happy to price IPO this month -sources

(Adds BB Banco de Investimento as one of the banks hired to manage the IPO, paragraph 5)

By Carolina Mandl

SAO PAULO, March 5 (Reuters) - Brazilian toy retailer Ri Happy Brinquedos SA expects to price its initial public offering (IPO) by the end of March, two people with knowledge of the matter said.

The company expects to announce the price range in a filing with Brazilian securities industry regulator CVM this week, the sources said, requesting anonymity because they are not authorized to discuss the matter publicly.

Ri Happy did not immediately respond to requests for comment.

The company and its controlling shareholder, Carlyle Group LP, may raise up to 1 billion reais ($309 million) in the primary and secondary portions of the offering.

Ri Happy has hired banks Banco BTG Pactual SA, Goldman Sachs & Co, Itaú BBA SA, Credit Suisse Group, Bradesco BBI SA and BB Banco de Investimento SA to manage the offering. Ri Happy initially filed for the IPO with securities regulators on Jan. 23.

In the preliminary prospectus, Ri Happy said it planned to use the money to expand its network of 259 stores and to fund acquisitions. The toy retailer said it intends to buy specialty retailers focused on products for infants and young children, which are less subject to seasonality than toy retailers.

Ri Happy posted earnings before interest, tax, depreciation and amortization (EBITDA) of 141 million reais ($43.5 million) last year from net revenue of 1.278 billion reais.

$1 = 3.24 reais Reporting by Carolina Mandl, Editing by Rosalba O'Brien and David Gregorio

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