MEXICO CITY May 28 Mexican Real Estate
Investment Trust (REIT) Fibra Uno is preparing to issue up to
33.1 billion pesos ($2.57 billion) in new equity, according to a
stock market filing on Wednesday.
The issue will be the company's third share
offer since it first listed in 2011.
The trusts, known locally as fibras, issue certificates that
function much like shares, and allow investors to participate in
Mexico's property market without owning buildings.
The latest offering, which is due to close on June 10, could
price at an average of 41.33 pesos, the company said in its
prospectus, based on the closing prices of its shares over the
last 15 days.
Fibra Uno said it intended to use up to 100 percent of the
funds to finance new real estate purchases, but could use up to
25 percent each for early debt payments and for real estate
The company said earlier in May that it had reached an
agreement to buy a portfolio of properties named R15 for around
23.5 billion pesos ($1.83 billion) after more than six months of
($1 = 12.8615 Mexican Pesos)
(Reporting by Christine Murray; Editing by Lisa Shumaker)