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Mexican real estate investment trust targets 2B pesos from IPO

Real estate investment trust Fibra Nova is set to launch an IPO Aug. 2, expecting to raise approximately 2.27 billion Mexican pesos, according to a report by Reuters.

Trading of shares on the Mexican stock exchange is slated to commence Aug. 3, following the IPO pricing Aug. 2.

The targeted fundraising sum represents the midpoint of the 20 peso- to 21.50 peso-per-certificate range issued on the bourse's website Aug. 1 and factors in a greenshoe allocation.

The trust comprises properties owned by meat and milk producer Grupo Bafar, the Aug. 2 report noted.

As of Aug. 1, US$1 was equivalent to 17.78 Mexican pesos.