Press Release
January 7, 2016

Holland & Knight Represents Fibra INN in Its Launch of a Sponsored Level 1 American Depositary Receipt Program

NEW YORK (January 7, 2016) – Holland & Knight advised Fibra INN (Deutsche Bank Mexico, S.A., Banking Institution, Trust Division F/1616, as trustee) in the launch of its sponsored Level 1 American Depositary Receipt (ADR) Program. The Securities and Exchange Commission declared Fibra INN’s ADR program effective on December 28.

Fibra INN (FINN13) is a Mexican real estate investment trust formed primarily to acquire, develop, operate and rent a broad range of hotel properties in Mexico. Headquartered in Monterrey, Fibra INN has a portfolio of high-quality real estate properties throughout Mexico for business travelers.

Fibra INN’s ADR program is the first ever ADR program launched by a Mexican Fibra. The Bank of New York Mellon acted as ADR depositary bank. Each ADR will represent 10 of Fibra INN’s real estate certificates (Certificados Bursátiles Fiduciarios Inmobiliarios), which are listed on the Mexican Stock Exchange, and the ADRs will trade on the over-the-counter market.

Guillermo Uribe, the Mexico City-based partner who headed the Holland & Knight team, noted that “the ADR program is expected to enable Fibra INN to expand its international investor base and strengthen liquidity. In addition to this being a very exciting development for Fibra INN, the transaction also reflects growing investor demand for securities of Mexican real estate investment trusts overall.”

Other members of the Holland & Knight team included partner Stephen Double and senior counsel Carlos Meza in New York, associates Jorge Gonzalez and Adrian Gay in Mexico City, and associate Tyler Hudson in Tampa.

Related News and Headlines