Brazil’s BRMalls Preps Equity Follow-On

BRMalls, the Brazilian mall acquisition and holding company, has filed plans to tap the international and Brazilian equity markets in a follow-on to its April 2007 IPO. The Novo Mercado listed company hopes to be the first Brazilian to issue equity since Cosan’s disastrous August deal. The sugar producer raised a less than expected $1bn as well as the ire of investors who saw their influence diminish amid an ownership restructuring that tightens the grip of the company’s controlling shareholder. Itaú BBA is lead arranger on BRMalls, with UBS and Citi as joint-leads.