Banco Bilbao Vizcaya Argentaria Chile SA
Av. Costanera Sur 2710, Torre A, L.C
Phone: +56 226791000p:+56 226791000 SANTIAGO, Chile Fax: +56 226791350f:+56 226791350

This company is no longer actively traded on any major stock exchange.
This is a Subsidiary, click here for the Parent Company

BIVA to debut Real Estate Fiber with the placement of Grupo Sordo Madaleno

The Institutional Stock Exchange (BIVA) will list on Tuesday its first Real EstateFiber, this is Fibra Soma (SOMA),which will be launched in the capital market with an initial public offering of six thousand 768.5 million pesos.

With the leading intermediation of Casa de Bolsa Santanderand as a trustee CI Banco, Grupo Sordo Madaleno (Grupo Soma),a leading Mexican office in architecture, interior design and real estate development, it takes to the stage of the real estate investment trusts (Fibras) market,with the first Real Estate Fiber in BIVA.

It is the first real estate fiber on the Institutional Stock Exchange and the first offer in the capital market in the year.

According to the prospectus of placement, Fibra Soma plans to raise from the investor public up to seven thousand 758 million 503 thousand 900 pesos,with the placement on Tuesday of 135.3 million real estate trust certificates (CBFIS) on the second stock exchange operating in Mexico.

Soma is a recently created trust focused on the acquisition, leasing and management of real estate in Mexico. It was formed by an entity of the Soma Group, a leader in asset management with approximately 86 billion pesos in assets under management as of September 30, 2020.

At the end of the offer, the broadcaster recounts in its prospectus, its portfolio will be composed in aggregate form of 13 properties located in the main cities of Mexico, with approximately 684 thousand 392 square meters.

Grupo Soma has developed more than 889 thousand square meters in the last 25 years and is currently in charge of the development of approximately 375 thousand square meters.

Of the ten assets in operation, nine are exclusively shopping malls and one project is mixed-use, including offices and commerce. In terms of the location of the assets in operation, four are located in the metropolitan area of Mexico City; two in the capital of Puebla; two in Querétaro and two in Veracruz.

"Our initial portfolio is strategically located in locations with increasing economic activity, in highly populated areas and within the country's most prominent commercial and office corridors to be in the most affluent points (e.g. Pedregal and Polanco in Mexico City, Boca del Río in Veracruz and Juriquilla in Querétaro); avoid competition between your own projects and meet demand for such projects," the report reads to the investor public.

Fibers are capital investments intended for the financing for the acquisition or construction of real estate, to profit from the rental of real estate such as offices, commercial premises, hotels, among others, since they are managed by a trustee (credit institution in charge of real estate).

The investor is a participant in the financing of real estate projects and when trading on the stock exchange, the dividend of the shares is distributed between the owners and shareholders of the Trust, proportionately.


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Monday, March 1, 2021