Mexican property investment trust prepares to list certificates
MEXICO CITY Oct 21 (Reuters) - Mexican real estate investment trust Fibra Prologis Property Mexico is preparing to issue its first certificates on the Mexican stock exchange and abroad, the company said on Monday.
The trust is a subsidiary of U.S. REIT Prologis, and has a portfolio of 177 properties used for manufacturing and logistics, with a gross total leasable area of 29.8 million square feet. Mexican REITs are known as fibras.
Fibra Prologis Property Mexico did not say when it would list the certificates, or what the offering would be worth.
Fibras, are similar to REITs and issue certificates that function much like shares on the bourse. They have become popular in Mexico this year, with several listings.
The financial institutions underwriting the deal are Banamex, Banorte Ixe, Actinver and Credit Suisse, according to documents filed with the Mexican stock exchange.