Mexico’s Fibra Nueva IPO Delayed
Mexico’s Fibra Nueva, a real estate investment trust, has reportedly delayed its initial public offering (IPO) until next year. The company had planned to launch the IPO in late 2020, but the process has been pushed back due to market conditions.
Background of Fibra Nueva
Fibra Nueva is a Mexican real estate investment trust (FIBRA) that was founded in 2019. The company is focused on acquiring and managing a portfolio of real estate assets in Mexico. The company is owned by Grupo Financiero Banorte, a Mexican financial services company, and Grupo Financiero Inbursa, a Mexican investment banking firm.
Fibra Nueva has a portfolio of over 1,000 properties, including office buildings, shopping centers, and industrial parks. The company has a total asset value of over $2 billion.
IPO Delayed
Fibra Nueva had planned to launch its IPO in late 2020, but the process has been delayed due to market conditions. The company had planned to raise up to $1 billion in the offering.
The delay is due to a combination of factors, including the current market volatility and the uncertainty surrounding the Mexican economy. The company is also facing competition from other FIBRAs that are launching IPOs in the near future.
Impact of the Delay
The delay of the Fibra Nueva IPO has had a negative impact on the company’s stock price. The stock has fallen by more than 10% since the announcement of the delay.
The delay has also had a negative impact on the Mexican economy. The IPO was expected to bring in much-needed capital to the country, but the delay has put a damper on those expectations.
Future Outlook
Despite the delay, Fibra Nueva is still expected to launch its IPO in the near future. The company is currently in the process of preparing for the offering and is expected to launch it in the first half of next year.
The company is also looking to expand its portfolio and is in the process of acquiring additional properties. The company is also looking to expand its presence in other countries, such as the United States and Canada.
Conclusion
Fibra Nueva’s IPO has been delayed due to market conditions and the uncertainty surrounding the Mexican economy. The delay has had a negative impact on the company’s stock price and the Mexican economy. Despite the delay, the company is still expected to launch its IPO in the near future and is looking to expand its portfolio and presence in other countries.