Deals
Real Estate Developer Vesta Rises After Biggest Mexican Listing in US in a Decade
- Industrial park developer raises $387.5 million in US offer
- Sale capitalizes on nearshoring trend around Mexico’s economy
Photographer: Susana Gonzalez/Bloomberg
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Industrial real estate developer Corporacion Inmobiliaria Vesta SAB raised the most money in US markets by a Mexican company in 11 years with an offering that tapped into the buzz over the migration of manufacturers into the country.
Vesta raised $387.5 million in an offering of US-traded shares on Thursday, the company said in a filing, while underwriters have a 30-day option to purchase an additional $58 million. That was the biggest placement by a Mexican company in US markets since Grupo Financiero Santander Mexico SAB in 2012, according to data compiled by Bloomberg.