Brazilian Paper Co Plans FO

Celulose Irani is preparing to raise funds through a follow-on equity sale, it says. The maker of paper, packaging and resins plans a primary and secondary sale of units, each composed of 1 common and 4 preferred shares. It does not give additional details, and a prospectus has not been filed. Irani common shares closed at BRL1.38 Thursday and preferred at BRL1.51.