For the second time in less than a year Manulife has launched an initial public offering of its US office real estate investment trust in Singapore, only this time it is targeting more money.
Having failed to list the assets last July as global stock markets tumbled, the Canadian financial services group is now set fair to raise as much as $470 million, over 10% more than last time.
Chastened by its experience 10 months ago, Manulife has secured pre-launch commitments totaling 80% of the Manulife US Reit IPO, a source familiar with the situation told FinanceAsia.
They...
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