May
02

Manulife REIT Said to Seek Up to $470 Million in Singapore IPO

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Manulife Financial Corp., Canada’s largest life insurer, will seek as much as $470 million in its second attempt at a Singapore initial public offering of its U.S. properties, according to people with knowledge of the matter.

Manulife U.S. REIT, backed by three office buildings in Los Angeles and Atlanta, will offer 566 million units at 82 cents to 83 cents apiece, the people said. The trust, which plans to start taking orders as soon as Tuesday, will offer a dividend yield of as much as 6.7 percent for this year and 7.2 percent for 2017, the people said, asking not to be identified as the information is private….

Manulife REIT Said to Seek Up to $470 Million in Singapore IPO

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