Mexican real estate investment trust Fibra UNO (BMV:FUNO 11) expects to launch an initial public offering (IPO) for its Fibra Next unit before the end of January, an executive told Reuters, after the transaction was unexpectedly halted in late November. Fibra Next was created with Fibra Uno's industrial assets to tap into the "nearshoring" trend, or moving manufacturing capacity to Mexico from abroad. Its IPO was set to raise up to 15 billion pesos ($871.70 million) through the issuance of 277.8 million Real Estate Trust Stock Certificates at 54 pesos apiece.

At the time, Fibra Uno (FUNO11.MX), opens new tab did not explain the abrupt change of plans just one day before Fibra Next's planned debut on the stock market, nor did it offer a new date for the IPO. It only said it was awaiting a "confirmation of judgment," which is a decision from tax authorities. "We're definitely still moving forward with the intention of holding the IPO," said Gonzalo Robina, Fibra Uno's deputy CEO, in an interview with Reuters late on Wednesday.

"There was just a delay, but (the plan) remains the same. There is no major change." Robina said Fibra Uno - which leads Mexico's real estate investment trust (REIT) market with a portfolio of more than 600 properties - had been working with authorities to get all the documentation in order to carry out the IPO. "Although we cannot provide an exact date, we hope that (the IPO) will be this month," he added.

Robina said the missing paperwork is tied to a regulatory authorization needed to operate as a "Fibra" in Mexico, which is the equivalent of a REIT. The IPO would be a breath of fresh air for Mexico's main stock exchange, which has seen a dearth of listings in recent years. Instead, companies have opted to leave the market with others launching abroad.

Mexico passed an overhaul of market regulations last year in a bid to bring investments back.