MEXICO CITY, July 24 Certificates in Mexican
real estate investment trust Fibra Shop fell on Wednesday in
their debut on Mexico's stock exchange.
Fibra Shop, the newest REIT amid a trend for
the investment vehicles in Mexico, raised 5.466 billion Mexican
pesos ($433 million) in its initial public offering.
The trusts, known as fibras, are similar to
U.S. REITs (real estate investment trusts) and issue
certificates that function much like shares on the bourse.
Because the trusts are obliged to pay out 95 percent of
their taxable income in dividends to their shareholders, they
must keep issuing certificates to fund expansion.
Fibra Shop's certificates closed at 17.30 pesos, 1.14
percent below its offering price of 17.50.
Fibra Shop is Mexico's sixth REIT to list on the bourse.