MEXICO CITY (June 10, 2015) – Holland & Knight represented Fibra HD in its $1500 billion pesos (US$100 million) IPO, which was registered with the Mexican Stock Exchange (BMV) today. Fibra HD is the first Fibra with no controlling group and a fully internalized administration. It is the 10th Fibra to go public since legal reforms made Fibras possible in 2011.
Fibras are the Mexican equivalent of American REITs (real estate investment trusts) and operate like stocks. They are very popular among local investors because of their high rates of return.
The Holland & Knight team acting as counsel was led by Mexico partner Guillermo Uribe Lara and associates Adrian Gay, Jorge Gonzalez, Mirna Ordaz, Alonso Ramirez and Santiago Soldevilla.
The Fibra HD IPO represents the fourth time Mr. Uribe and his team have advised on Fibra market debuts. He advised Fibra UNO (2011), Fibra Inn (2013) and Fibra Shop (2013) on their IPOs, as well as several significant follow-on transactions and debt offerings, including the first global bond, the first long-term bond program, and the first rights offer ever made by any Fibra.
Earlier this year, Holland & Knight was honored by LatinFinance magazine for its role in Fibra UNO’s US$2.5 billion follow-on public offering, a deal that was named the Follow-On Equity Deal of the Year.
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