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Manulife US REIT raises US$142.7 mil from private placement, preferential offering

Uma Devi
Uma Devi9/20/2019 03:45 PM GMT+08  • 3 min read
Manulife US REIT raises US$142.7 mil from private placement, preferential offering
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SINGAPORE (Sept 20): The manager of Manulife US REIT announced Friday it has raised total gross proceeds of US$142.7 million ($196.6 million) from its private placement and preferential offering.

The private placement was more than seven times covered at the top end of the issue price range at 87.6 US cents, while the issue price under the preferential offering was fixed at 86 US cents.

The private placement and preferential offering issue prices represent discounts of 3.6% and 5.4%, respectively, to the volume weighted average price (VWAP) of all unit of Manulife US REIT traded on Wednesday – the last full market day prior to the signing of the underwriting agreement.

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