Prologis' Mexican Reit raises 7b pesos in IPO

[SAO PAULO] Prologis Inc's Mexico real estate investment trust raised about seven billion pesos (S$680 million) in its initial public offering on Tuesday, marking the nation's first successful share sale of the year.

Prologis Property Mexico, as the Mexico City-based Reit is formally known, sold 258 million shares for 27 pesos apiece, according to a statement. The shares were to start trading yesterday, listed on the Mexico Stock Exchange. With manufacturing and logistics space for rent across the country, Prologis Property is positioning itself to benefit from rising demand after Pr…