Mexican REIT Fibra Sendero Delays IPO, Citing Market Conditions

Administradora Sendero SA (FISEN13), a Mexican real-estate investment trust that owns shopping centers, said it’s delaying a planned initial public offering because of poor market conditions.

The trust, known as Fibra Sendero, disclosed the delay in a filing today with the Mexican stock exchange. Fibra Sendero had planned to sell the shares today, with the goal of raising about 5.3 billion pesos ($405 million) including an over-allotment option for underwriters.

While Mexican companies have raised a record $12.2 billion in IPOs and other equity offerings this year, stock prices have slumped, with the benchmark IPC index of 35 companies falling 6.7 percent. The BMV Fibras index of six Mexican REITs has declined 3.3 percent in 2013.

To contact the reporter on this story: Jonathan Levin in Mexico City at jlevin20@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.