Mexican Real Estate Investment Trust - Fibra Inn - Begins Trading on the Mexican Stock Exchange

The global offering consisted of 214,316,264 Certificados Bursátiles Fiduciarios Inmobiliarios (“CBFIs”), 60.2% of which was placed with Mexican investors and 39.8% of which was purchased by international investors under rule 144A in the U.S. and Reg S outside the U.S. The offering price was Ps. 18.50 per CBFI, yielding an aggregate value of Ps. 3,964,850,884. In addition, as part of the Over-allotment (“green shoe”) option, Fibra Inn has granted the underwriters a 30-day option to purchase up to 26,789,533 additional CBFIs at the initial public offering price to cover any over-allotments.

As a result of the offering, Fibra Inn’s CBFIs began trading today on the Mexican Stock Exchange under the ticker symbol “FINN13”.

Of the total CBFIs offered, 63.3% were primary while 36.7% were secondary. In a series of transactions following the completion of this offering, Desarollos del Valle will contribute 8 hotels and holds non-mandatory options to purchase an additional 6 hotels that will make up its initial portfolio of 14 total hotels.

Corporación Actinver, S.A.B. de C.V. acted as structuring agent. Actinver Casa de Bolsa, S.A. de C.V. acted as joint bookrunner along with Casa de Bolsa Credit Suisse (México), S.A. de C.V. and Santander Investment Securities Inc.

A copy of the prospectus relating to the offering may be obtained on the website of the Mexican Securities and Exchange Commission (Comisión Nacional Bancaria y de Valores or “CNBV”) at www.cnbv.gob.mx and the Mexican Stock Exchange (Bolsa Mexicana de Valores or “BMV”) at www.bmv.com.mx.

Fibra Inn is a Mexican trust formed primarily to acquire, own, develop and operate a broad range of hotel properties in Mexico. Headquartered in Monterrey, Fibra Inn possesses a high-quality, geographically-diverse portfolio of 14 hotels located in nine states throughout Mexico, comprising approximately 2,423 rooms. The Company has signed Franchise Agreements with IHG to operate its global brands Holiday Inn, Holiday Inn Express, and Holiday Inn Express & Suites, as well as with Hilton to operate its brand Hampton Inn by Hilton. These hotels enjoy some of the industry’s top loyalty programs and, offer attractive hotel options for businesses travelers. Fibra Inn recently listed its Real Estate Trust Certificates (Certificados Bursátiles Fiduciarios Inmobiliarios or “CBFIs”) on the Mexican Stock Exchange and trades under the ticker symbol “FINN13”.


Logos, product and company names mentioned are the property of their respective owners.

Reader Comments:

Be the first to leave a comment for this article

Tweet #HotelNews Tweet #HotelDevelopment Tweet