Manulife launches Singapore Reit IPO

Canadian financial services group ploughs on with Singapore Reit IPO as rallying Treasury market provides a much-needed spur in very difficult market conditions.
Manulife Square Toronto: which way are they heading?
Manulife Square Toronto: which way are they heading?

Manulife has decided to plough ahead with its Singapore Reit flotation despite the extremely difficult market backdrop caused by Greece's potential exit from the Eurozone and China's collapsing A-share market. 

The Canadian financial services group opened bookbuilding on Monday for an S$569 million $426 million IPO for Manulife US Reit after fixing the issue price for the 767.3 million units on offer at S$0.82. This represents a 2016 post tax dividend yield of 6.3%.

Joint bookrunners DBS and JP Morgan were able to tuck 23.56% of the offering away with six cornerstones comprising DBS, DBS on behalf of a number of private banking clients, Fortress...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222