Mexico bourse sees up to 7 stock offerings in 2014
MEXICO CITY, June 13
MEXICO CITY, June 13 (Reuters) - Mexico should see up to five more share offerings in 2014, bringing the year's total to seven placements, the head of the Mexican bourse said on Friday.
That total is far below the record haul of 25 in 2013.
So far this year, there have only been two public share offerings. Fibra Prologis, the Mexican affiliate of U.S. Real Estate Investment Trust (REIT) Prologis Inc., was the first IPO of the year, raising nearly 7 billion pesos ($538 million) earlier this month, while Fibra Uno raised $2.52 billion in a placement this week.
"We think we're going to close the year with six or seven offerings," Luis Tellez, the chief executive officer of Mexico's stock exchange said at an event.
A spokesman for the stock exchange said the estimate includes equity offers from companies and fibras (Mexican real estate investment trusts) as well as "capital development certificates" or CKDs.
Tellez said that restaurant chain Alsea had already made public its intention to do a follow-on, and that three other companies had made formal requests to list shares, although he declined to name the companies.
Mexico saw a record number IPOs in 2013, but momentum did not carry over into the new year because emerging markets worldwide were hit by sell-offs.
Tellez did not specify how many initial public offerings he expected this year. (Writing by Gabriel Stargardter; Editing by Simon Gardner and David Gregorio)
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