Mexico’s Fibra Next Planning Largest Local IPO Since 2018
- Company to issue 278 million shares for total $864 million
- Company initially sought $1.5 billion launch earlier this year
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Fibra Next, which includes properties owned by Latin America’s largest real estate investment trust, is pushing ahead with plans for an initial public offering worth 15 billion pesos ($864 million), the biggest local IPO since 2018.
The company aims to sell up to 277.8 million shares known as CBFIs in the offering scheduled for Nov. 28 at around 54 pesos each, according to a filing on Mexico’s stock exchange website. The offer includes an over-allotment option that would bring the total raised to as much as 20.7 billion pesos, or roughly $1.2 billion, from investors in the US, Mexico and other markets, the document shows.