(Adds valuation, use of proceeds)
By Carolina Mandl
SAO PAULO, March 7 (Reuters) - Brazilian toy retailer Ri Happy Brinquedos SA set the price range for its initial public offering between 20.30 reais and 26.30 reais per share, according to a securities filing on Wednesday.
Ri Happy and its controlling shareholder, Carlyle Group LP , intend to raise between 750 million reais ($231.26 million) and 970 million reais ($299.10 million) with the offering. Reuters reported the expected size of the offering earlier on Wednesday.
The pricing is scheduled for March 27.
The company said in the filing it intends to use around 500 million reais to expand its network of 259 stores and fund acquisitions.
Carlyle-backed Ri Happy may be valued at 1.7 billion reais, if the shares are sold at top of the range and there is enough demand for additional allotments.
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.
$1 = 3.2431 reais Reporting by Carolina Mandl Editing by Leslie Adler and Dan Grebler