Caixa Seguridade Participações S.A. and IRB-Brasil Resseguros S.A. filed plans for initial public offerings (IPO) that their shareholders expect to raise a combined BRL 13 billion should an across-the-board market rout ease in coming weeks. Neither Caixa Seguridade nor IRB unveiled terms of the transaction, including the size of their offerings or a timetable. The filing of both IPOs were widely expected to take place before the end of the month, as both companies are seeking to price both deals around October, according to sources with direct knowledge of the transactions.

In the case of Caixa Seguridade, proceeds from the IPO may help Brazil's government raise extra money needed to plug a widening budget deficit.