Fibra Shop Targets MXP5.8bn in IPO

Mexican retail-focused real estate fund Fibra Shop could bring in MXP5.8bn ($443m) from its primary and secondary share offering, scheduled for July 23. The fund will sell up to 214m primary shares, including a 15% greenshoe option, and 98m secondary ones at between MXP17.5 and MXP19.5 each. Three property developers, Grupo Cayon, Grupo Aportante Frel and Grupo Central de Arequitectura are the secondary sellers. BTG Pactual, Actinver, Merrill Lynch are international leads, with Banorte joining for local distribution. The cash raised will go to finance existing loans and real estate acquisitions, and to new purchases.