Mexican REIT Fibra Shop to raise up to $500 million
MEXICO CITY, Sept 19 (Reuters) - Mexican real estate investment trust Fibra Shop on Friday said it will sell up to 375 million certificates worth about $500 million on Mexico's stock exchange to boost its buying power.
The REIT, which specializes in retail properties, said in a prospectus that the funds raised from the offer will be used to finance future acquisitions of shopping centers, development opportunities and for general corporate purposes.
Fibra Shop certificates closed at 17.64 Mexican pesos ($1.34) on Thursday. If the new certificates were to price at around that price, the total offering would be worth up to 6.615 billion Mexican pesos ($500 million).
The preliminary prospectus, filed with Mexico's stock exchange, did not have details on the offering date or the price.
Fibra Shop made its debut on Mexico's stock exchange in July last year in an initial public offering of $433 million in certificates. (1 US dollar = 13.2035 Mexican peso) (Reporting by Elinor Comlay; Editing by Chizu Nomiyama)
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