We advised Vesta on its U.S. IPO and NYSE listing

Davis Polk advised Corporación Inmobiliaria Vesta, S.A.B. de C.V. (Vesta) on its $445.6 million U.S. initial public offering of 14,375,000 ADSs, representing 143,750,000 of its common shares (including 18,750,000 common shares pursuant to the full exercise of the underwriters’ option to purchase additional shares.) The ADSs were listed on the New York Stock Exchange under the symbol “VTMX.”

Vesta is a real estate owner, developer and asset manager of industrial buildings and distribution centers in Mexico. With a portfolio comprised of 202 buildings in modern industrial parks in 15 states of Mexico, Vesta has a gross leasable area of 33.7 million square feet (3.1 million square meters). Vesta has several world-class clients participating in a variety of industries such as automotive, aerospace, high-tech, pharmaceuticals, electronics, food and beverage and packaging.

The Davis Polk corporate team included partner Maurice Blanco, counsel Drew Glover and associate Javier Félix. Partner Kyoko Takahashi Lin and associate Kerri Thompson provided executive compensation advice. Associate Caroline R. Zhang provided Investment Company Act advice. The tax team included partner Lucy W. Farr and associate Yueyu Yang. Members of the Davis Polk team are based in the New York and Northern California offices.