El Puerto de Liverpool SAB, an operator of luxury department stores with gourmet food courts and in-house travel agencies, surged on growing speculation it may sell a stake in its real-estate assets.
The shares rose 4.3 percent to 163.90 pesos at 1:57 p.m. in Mexico City after touching an intraday record high of 165.50 pesos earlier today. The gain led the benchmark IPC index of 35 Mexican stocks, which advanced 1 percent.
Investors are wagering the company may package its real- estate holdings into an investment trust, known in Mexico as a Fibra, and list a portion of the assets on the stock market, said Gustavo Teran, an analyst at Corp. Actinver SAB. In a March 26 research report, Credit Suisse Group AG analysts including Antonio Gonzalez and Vanessa Quiroga wrote that Liverpool is the “most likely” among Mexican retailers to carry out such an offering.
“The Fibra would bring in money,” Teran said in a telephone interview from Mexico City. While such a sale isn’t his base scenario, he said “the shares would be revalued” on the back of such an offering.
Alberto Bercowsky, an investor relations official for Liverpool, didn’t immediately respond to an e-mail and telephone call seeking comment on whether the retailer had considered a REIT offering.
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