Mexico's Fibra Uno looks to issue up to $2.57 bln in equity
MEXICO CITY May 28 (Reuters) - 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 development.
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 negotiation. ($1 = 12.8615 Mexican Pesos) (Reporting by Christine Murray; Editing by Lisa Shumaker)
© Thomson Reuters 2017 All rights reserved.