Mexico Industrial Property Trust to IPO as Soon as Late November

The deal that’s set to become Mexico’s biggest initial public offering since 2018 is likely to price sometime after the US Thanksgiving holiday as the firm struggles to drum up enough investor interest at the valuation it was seeking, according to people familiar with the talks.

Latin America’s largest real estate investment trust’s planned IPO of Fibra Next, which will be formed with properties from Fibra Uno Administracion SA and another company controlled by the REIT’s founders, had been looking to raise as much as $1.5 billion in a primary offering initially planned for this week, Bloomberg previously reported. ...