MEXICO CITY, Oct 3 (Reuters) - Mexican real estate investment trust Fibra Shop on Friday said it would postpone a planned sale of tradable certificates due to current market conditions.
Last month, Fibra Shop, which specializes in retail properties, said it would sell up to 375 million certificates worth some 6.46 billion pesos ($478.51 million) to boost its buying power.
Mexico’s REITs, known locally as Fibras, issue certificates that function like shares and allow investors to participate in the property market without owning buildings.
In a statement, Fibra Shop said “prevailing conditions (on) financial markets” had prompted the decision to postpone the public offering of the certificates.
The REIT, which made its debut on Mexico’s stock exchange in July of last year, did not give any indication when it could restart the sale.
1 US dollar = 13.5002 Mexican peso Reporting by Anahi Rama Editing by W Simon