Mexico's Fibra Uno raises $2.52 bln in equity

miércoles 11 de junio de 2014 12:52 GYT
 

MEXICO CITY, June 11 (Reuters) - Mexican real estate investment trust (REIT) Fibra Uno said in a stock market filing on Wednesday that it issued 32.82 billion pesos ($2.52 billion) in new equity.

The share offering, 800.4 million new shares priced at 41 pesos each, closed on June 10 and was the company's third since it first listed in 2011.

It was only the second share placement on the Mexican stock exchange this year after Fibra Prologis raised $538 million in an initial public offering earlier in June.

REITs, known locally as fibras, issue certificates that function like shares and allow investors to participate in Mexico's property market without owning buildings.

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.

Shares of Fibra Uno were up 2.78 percent at 43 pesos in midday trading.

($1 = 13.0320 Mexican Pesos) (Reporting by Joanna Zuckerman Bernstein; Editing by Steve Orlofsky)