Latest news with #FibraUno
Bloomberg
5 hours ago
- Business
- Bloomberg
Fibra Next Looks to Raise $525 Million in IPO Set for July
Mexican real estate investment trust Fibra Next will look to raise around 10 billion pesos ($525 million) through an initial public offering in early July. The company, a carveout of Fibra Uno Administracion SA's industrial properties, will be focused on industrial real estate in the center of the country, according to a statement. Parent company Funo in February said it had secured clearance for the IPO and was awaiting appropriate market conditions to move forward with the spinoff.
Yahoo
11 hours ago
- Business
- Yahoo
Mexico's Fibra Next targets $422 million after reviving stalled IPO
MEXICO CITY (Reuters) -Mexican real estate investment trust Fibra Next is reviving its plans to go public and aims to raise 8 billion pesos ($422 million) in the offer, documents released late on Tuesday show. WHY IT'S IMPORTANT The IPO signals renewed confidence in Mexico's REIT market after regulatory delays last year stalled Fibra Next's debut on the stock exchange. BY THE NUMBERS Fibra Next plans to issue 80 million Real Estate Trust Certificates (CBFIs) at an offering price of 100 pesos each. Including overallotment and additional issuance options, the offering could reach 110.4 million certificates. CONTEXT Fibra Next was created with industrial assets from Fibra Uno, Mexico's largest real estate investment trust. REITs in Mexico, known as "fibras," operate similarly to U.S. REITs, offering returns from rental income and capital gains on property portfolios. Fibra Next's IPO was delayed in late 2023 due to a lack of "confirmation of judgment" from the tax authorities. WHAT'S NEXT The IPO is scheduled for later this year, according to the preliminary prospectus released through Mexico's main stock exchange. ($1 = 18.9667 pesos)
