Prudential Fibra Lands at Low End

Prudential Fibra Lands at Low End

Mexico Equity

Prudential Real Estate Investors has priced a MXP9.52bn ($765m) IPO for the Terrafina Mexican real estate trust, coming at the bottom of the range. On offer were 340m primary shares pricing at MXP28.00 each, according to people familiar with the sale, versus a MXP28.00-MXP32.00 range. The share total assumes the exercise of a 15% greenshoe option. Though investors continue to express strong interest in the Fibra asset class, the deal’s pricing compares to a Fibra Uno follow-on coming at the top

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