August 2, 2017 / 2:40 AM / in a year

Mexican REIT Nova seeks about $127 mln in initial offering

MEXICO CITY, Aug 1 (Reuters) - Mexican real estate investment trust (REIT) Fibra Nova expects to raise around 2.27 billion pesos ($127 million) in an initial public offering on Wednesday.

The amount, which includes a greenshoe allocation, is based on the mid-point of the 20 pesos to 21.50 pesos per certificate range posted on the Mexican stock exchange website on Tuesday.

The REIT is made up of real estate holdings of meat and milk producer Grupo Bafar, and it will make its market debut on Thursday after its Wednesday pricing.

Mexican REITs, known as Fibras, have become popular with Mexican pension funds in recent years due in part to favorable tax treatment. ($1 = 17.8950 Mexican pesos) (Reporting by Noe Torres; Editing by Gopakumar Warrier)

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