Multiplus, the company that runs a brand loyalty program for TAM, as well as other Brazil-based brands, has filed for an IPO with the CVM. The deal is set to be led by BTG Pactual and Credit Suisse. No prospectus has been filed detailing the frequent flyer company’s financials or its plan to go public. Executives away from the process note TAM’s controlling family had previously hired BTG Pactual to manage its holdings in the company. According to its web site, Multiplus’ brand loyalty program was created in June 2009, and includes names like fuel distributor Ipiranga, Ponto Frio, and Walmart. The main program it runs is a travel miles program for TAM. TAM shares rose 8% Wednesday, versus a 0.1% drop for the Ibovespa.