The Business Times
SUBSCRIBERS

Hot stock: Manulife US Reit falls 27.5% after announcing recapitalisation plan

Vivienne Tay

Vivienne Tay

Published Thu, Nov 30, 2023 · 09:41 AM
    • Manulife US Reit's Centerpointe property. The Reit's manager has announced plans to raise funds through a mix of asset dispositions and a sponsor-lender loan to remedy the Reit’s financial covenant breach.
    • Manulife US Reit's Centerpointe property. The Reit's manager has announced plans to raise funds through a mix of asset dispositions and a sponsor-lender loan to remedy the Reit’s financial covenant breach. PHOTO: MANULIFE US REIT

    UNITS of Manulife US Real Estate Investment Trust (Manulife US Reit) lost as much as 27.5 per cent after resuming trading on Thursday (Nov 30) morning following a halt called on Wednesday.

    The counter reached a low of US$0.066, down US$0.025 as at 9.25 am. It was also the most heavily traded by volume on the Singapore bourse at the time, with 33.4 million units changing hands.

    On Wednesday, the Reit’s manager announced plans to raise funds through a mix of asset dispositions and a sponsor-lender loan to remedy the Reit’s financial covenant breach.

    manulife us reitHot Stock

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback
    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More