Brazil's Caixa, IRB to decide on IPOs next week, sources say
SAO PAULO, Sept 24 (Reuters) - State-controlled Caixa Seguridade Participações SA and IRB Brasil RE SA, the Brazilian insurers aiming to list their shares this month, will decide on whether to go forward with their offerings early next week as Brazil's financial markets have experienced their worst rout in 13 years, five sources said on Thursday.
The three banks managing the initial public offering of Caixa Seguridade, the insurance unit of lender Caixa Econômica Federal, plan to meet on Tuesday to decide whether to go on or suspend the deal, said the first two sources, who requested anonymity since the plans are private.
In the case of IRB Brasil, a former reinsurance monopoly that is now controlled by Brazil's largest local banks and the government, a meeting to decide on the IPO may also take place next week, a third and a fourth source said.
Both companies will also gauge how much investors would be willing to pay for their stock, the sources said, adding that pricing perception will be key to deciding whether to pursue the IPOs. (Reporting by Guillermo Parra-Bernal and Aluísio Alves; Editing by Leslie Adler)
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