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Manulife US REIT to raise US$80.0 mil through private placement

Felicia Tan
Felicia Tan11/30/2021 8:47 AM GMT+08  • 2 min read
Manulife US REIT to raise US$80.0 mil through private placement
The new units are expected to be issued and commence trading on the SGX-ST on Dec 9.
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The manager of Manulife US REIT (MUST) is seeking to raise US$80.0 million ($109.7 million) through a proposed private placement of new units in the REIT at an issue price of between 64.9 US cents to 67.6 US cents per unit.

The size of the private placement may be increased by up to 30.8 million units to raise additional gross proceeds of around US$20.0 million.

This comes as the REIT announced the acquisition of three properties in Phoenix, Arizona and Portland, Oregon on Nov 30.

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