Natura tops $1 bln in follow-on

Natura tops $1 bln in follow-on

Capital Markets Corporate & Sovereign Strategy Equity Brazil US

Brazilian cosmetics company Natura & Co said Friday that it earned BRL5.6 billion ($1.02 billion) in a share sale to raise money for the turnaround of beauty company Avon. In the follow-on offering, Natura sold 121 million common shares for BRL46.25 each, or $16.46 for every American depositary share (ADS). Each ADS equals two common shares in Natura, the São Paulo-based company said in a statement.  Shares in Natura rose 0.4% to close at BRL47.19 on Friday, while its ADSs climbed 1.13% to $

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