In a move to revitalize Mexico's stock market, Fibra Uno Administracion SA, Latin America's leading Real Estate Investment Trust (REIT), is planning to generate $1.5 billion through Fibra Next. This constitutes the biggest Initial Public Offering (IPO) in Mexico since 2018. The new REIT will be backed by industrial and warehouse properties and includes factories, warehouses, and industrial parks from a developer owned by the El Mann family, Fibra Uno's largest shareholder.
The S&P/BMV IPC stock index has shown a 12% return this year, surpassing emerging stocks, signaling a promising time for the IPO. The exact date for the offering is yet to be announced, with Casa de Bolsa BBVA (BME:BBVA) Mexico serving as the lead bank for the deal.
This development comes amidst a trend of nearshoring, where firms are moving supply chains closer to US consumers by selling equity stakes. Companies like Prologis (NYSE:PLD) Property Mexico SA and Grupo Traxion SAB are capitalizing on this trend, further contributing to the rejuvenation of Mexico's stock market.
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