Manulife US Reit gears up for listing in Singapore
Plan for S$629m proceeds from offering, cornerstone investors, sponsor units
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Singapore
IN WHAT must be a welcome relief for the local IPO-dry stock market, Manulife US Real Estate Investment Trust (Manulife US Reit), a unit of Canadian insurer Manulife Financial Corporation, is aiming for a mainboard listing on the Singapore Exchange, with its preliminary prospectus lodged with the Monetary Authority of Singapore on Monday.
The Reit is aiming to raise gross proceeds of S$629.2 million, comprising S$421.17 million from an international placement and a public offering, S$148.25 million from cornerstone investors and S$59.77 from sponsor units.
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