08 March 2017
Mexico City
Reporter: Theo Andrew

Thor Urbana makes CKD bid at Mexican Stock Exchange


Thor Equities Mexican affiliate, Thor Urbana, has applied to place a Capital Development Certificate (CKD) at the Mexican Stock Exchange (BMV), to raise funds for retail and leisure investment.

The real estate development and investment company is looking to raise between $350 and $400 million from retirement funds and international investors.

A CKD is issued by a trusteeship and channels resources into developing sectors and infrastructure projects, in a bid to provide portfolio diversification for qualified institutional investors.

Thor Urbana plans to invest the capital raised into lifestyle retail centres and mixed-use projects across cities in Mexico with high population density.

According to the company, this is in anticipation ofsignificant growth in the sector as user demand increases for leisure space as well as retail space.

A company spokesman said: “We will use these funds to continue developing innovative projects that change the panorama of our cities. Our goal is to add value in every aspect for those communities where our projects are located, thus creating real centers to socialise as well as experienced-filled spaces.”

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