MEXICO CITY (November 3, 2016) – Holland & Knight represented Fibra Plus on its debut in the capital markets. The Mexican real estate investment trust (FIBRA) announced its initial public offering (IPO) today, raising MX$1.5 billion. Fibra Plus is the 11th FIBRA to be listed on the Mexican Stock Exchange.
Fibra Plus shares (CBFIs) were listed at MX$15 each. Punto Casa de Bolsa and Finamex participated as lead and co-lead underwriters, respectively. This is the first FIBRA IPO in the Mexican market in more than a year.
The company went forward with its public offering, despite the difficult and uncertain market conditions caused by the upcoming U.S. presidential election, because of its strong conviction of the quality, performance and commitment of its management team.
The Holland & Knight team representing Fibra Plus includes partner Guillermo Uribe Lara and associates Adrián Gay Lasa, Jorge González Carlini, Alonso Ramirez Ricaud and Mirna Ordaz.
Mr. Uribe and his team have been constant players and important counselors to the FIBRA market in Mexico since its inception in 2011. In fact, the Fibra Plus IPO represents the fifth time the team advised on Fibra market debuts. They advised Fibra UNO (2011), Fibra Inn (2013), Fibra Shop (2013) and Fibra HD (2015) 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, the first rights offer ever made by any Fibra, and the first American Depositary Receipt (ADR) program. The group also helped to establish the Mexican Association of Fibras, AMEFI, in Dec. 2015.