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