Fibra UNO (FUNO11.MX)

UPDATE 2-Mexico's real estate trust Fibra Next eyes $865 mln IPO to cash in on nearshoring

Mexican real estate investment trust Fibra Next plans to raise up to 15 billion pesos ($865 million) in its initial public offering, according to a filing with the country's main stock exchange on Tuesday, in a bid to capitalize on "nearshoring." Fibra Next, spun off by parent trust Fibra Uno, plans to issue some 277.8 million Real Estate Trust Stock Certificates (CBFIs) in the offering, scheduled for November 28, according to the document dated Tuesday. Fibra Nearshoring Experts and Technology, as Fibra Next is officially known, had reportedly initially been targeting a valuation of $1.5 billion according to media reports last month, pricing it as the largest local IPO since 2018.