THE WHAT? Natura &Co has sold some 121.4 million voting shares, priced at R$46.25 each, according to a report published by Bloomberg, quoting a filing.
THE DETAILS The amount was slightly lower than the R$6,207.2 million the manufacturer of The Body Shop and Aesop had expected to raise. Nevertheless, shares in the Brazilian B Corp rose 1.7 percent on Friday, Bloomberg reported.
THE WHY? Natura &Co plans to use the proceeds to support its future growth, particularly the integration and turnaround of Avon; digitalization of the business; geographic expansion; and sustainability measures as well as to cut debt.