BRF S.A. (BOVESPA:BRFS3) is seeking to raise about $1.5 billion from the sale of a 20% stake of a unit focused on the halal processed food market via an initial public offering, two people with direct knowledge of the plan said. BRF expects to price the One Foods Holdings Ltd.'s IPO by late March or early April, depending on market conditions, said the people. London is likely to be picked as the listing place, they said. BRF has hired the investment-banking units of Bank of America Corp and Morgan Stanley & Co to underwrite the One Foods IPO, with Citigroup Inc. acting as an advisor to the process, the people said. The companies declined to comment.