Abril Educacao Preps FO

Brazil’s Abril Educacao is planning to return to the ECM for BRL600m ($306m), it says. About BRL450m of the follow-on would be secondary shares sold by members of the controlling Civita family and private equity funds managed by BR Investimentos and Banif, with the remainder representing fresh capital for the education provider to keep making acquisitions. The timing of the sale remains to be determined. Bank of America Merrill Lynch, BTG Pactual, Bradesco, Credit Suisse and Itau are managing. Abril raised $273m-equivalent in its 2011 IPO. The shares have climbed 144% since, hitting BRL48.83 at Tuesday’s close.