BBVA Bancomer successfully places primary public offering by Fibra Danhos on the Mexican Stock Exchange (BMV)October 16, 2013
Acting as global coordinator and underwriter, the Financial Group strengthens its leadership in the Mexican capital markets
- The public offering totalled MXN 5.98 billion, including the greenshoe option.
- Demand from investors exceeded the offering by approximately 2.6 times.
- This transaction bolsters the capacity of the real-estate segment of Mexico's capital market, and this is the first Fibra specializing in Premier Assets.
- BBVA Bancomer creates, develops and promotes new investment opportunities for its clients and has participated in all the major offerings. It has led the industry in equity placements since 2009.
BBVA Bancomer today announced the placement of a public offering by Fibra Danhos, Concentradora Fibra Danhos, S.A. de C.V., totalling MXN 5.98 billion, on the Mexican Stock Exchange (BMV).
Demand from interested investor exceed the amount offered by 2.6 times, and approximately 29 institutional investors and more than 2,486 equity investors took part.
The global offering was distributed as follows: 38% went to international investors, and 62% domestic investors; the retail segment took up 25% of the total amount assigned and the institutional segment accounted for 75% of the local investors.
The proceeds of the offering will be used for project development, including offices and a hotel at El Toreo, expansion of some existing properties, and paying of current debt, among others.
Speaking about this offering, Adrian Otero Rosiles, General Director of Corporate and Investment Banking at BBVA Bancomer, said "we are currently seeing a structural change, and unique, long-term investment opportunities are being created in Mexico." He expressed his gratitude to Danhos for the confidence it placed in the institution, and remarked that the transaction bolsters the capacity of the real-estate segment of Mexico's capital market, and is the first Fibra (a Mexican investment instrument similar to the US concept of REIT) specializing in Premier Assets.
As Rosiles explained, "we have underwritten more Fibra issues than any other bank in Mexico, which enables us to offer our clients a secure way to access new investment opportunities, while channelling financing to a key sector of the economy with tremendous growth potential."
Founded in 1978, Grupo Danhos is a Mexican development consortium engaged in the construction, rental, operation and management of premier-quality retail and office space, some of which has an iconic presence in Mexico City. Grupo Danhos' experience has been primarily in the creation, development and management of premier-quality properties, generating value not only in the properties themselves but in the areas surrounding them. The company has built close to 1.5 million square meters of premier-quality retail and office space as well as residential projects, a figure that will increase to more than 2 million square meters in coming years.
BBVA Corporate and Investment Banking has an organizational structure that enables it to meet any financial demand, both locally and globally, for business and corporate clients, applying its extensive experience and powerful ties to the investing public.
By using cutting-edge technology that meet the increasing demands of today's markets, Casa de Bolsa BBVA Bancomer offers excellent capacities for Data Market Access (DMA), a system it uses for equity trading, and with the support of expert professionals in its Capital Markets and Corporate Market Division, institutional clients receive broad-based support for all their needs, such as stock investment, risk management and structured products.