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Manulife US Reit raises US$94 million

The new units will raise the Reit's free float market cap to US$1.1b, near the US$1.2b threshold that will qualify the counter for inclusion in global property indices

Published Tue, Apr 30, 2019 · 09:50 PM

manulife us reit

Singapore

MANULIFE US Reit has raised US$94 million by issuing 114.1 million new units at US$0.824 apiece. The issue price represents a 5.29 per cent discount to the unit's closing price of US$0.87 on Tuesday.

The real estate investment trust (Reit) said that the latest private issuance exercise was oversubscribed with strong participation from existing unitholders and new institutional investors.

DBS, CLSA Singapore and OCBC Bank were joint lead managers and underwriters for the private placement.

Trading of the new units is expected to commence on May 9.…

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