MEXICO CITY Aug 27 The Mexican Real Estate
Investment Trust (REIT) of Australian investment bank Macquarie
Group said on Wednesday it plans to issue up to 300
million new tradeable certificates, an outlay that could be
worth some $600 million at current prices.
Fibra Macquarie said a meeting of its
investors had agreed to the new issuance, which may be sold
inside or outside Mexico or used to pay for transactions.
The investment trusts, known in Mexico as 'fibras', issue
certificates that function much like shares on the local stock
exchange, and allow investors to participate in Mexico's
property market without owning buildings.
Fibra Macquarie's certificates closed at 26.29 pesos on
Wednesday, implying a possible total outlay on the new issuance
of some $603 million at current prices.
(1 US dollar = 13.077 Mexican pesos)
(Reporting by Noe Torres; Editing by Kenneth Maxwell)