The industrial-focused Mexican real estate company Corporación Inmobiliaria Vesta, S.A.B. de C.V., more commonly known as Vesta, has launched its initial public offering (IPO) of 12.5 million American Depositary Shares (ADSs), representing 125 million of its common shares, pursuant to a registration statement on Form F-1 filed with the U.S. Securities and Exchange Commission (“SEC”).
In a press statement, Vesta said it was seeking to raise approximately $400 million based on the closing price per share of its common shares on the Mexican Stock Exchange on June 23. The price per ADS in the offering will be determined by reference to the closing price of the common shares on the last BMV trading date prior to the pricing date.
Vesta’s ADSs have been approved for listing on the New York Stock Exchange under the ticker symbol “VTMX.”
Vesta owns, manages, acquires, sells, develops and re-develops industrial properties in Mexico. As of the first quarter of this year, the company owned 202 properties located in modern industrial parks in 15 states of Mexico totaling a GLA of 33.7 million square feet.
