Natura Shareholders Ready Big Selldown

Shareholders of Natura, the Brazilian cosmetics company, plan to issue 49.3m shares July 30, according to the company’s most recently filed prospectus. The deal, being led by Itau BBA, with JPMorgan and UBS Pactual as joint bookrunners, can be increased by 7.4m units. At Thursday’s closing price of BRL27.88, the 56.7m share deal would yield BRL1.58bn. Natura is known to be the first company to price a modern IPO on the Bovespa, having first offered its shares in 2004 at BRL36.50. That was the company’s last visit to the market.