Manulife U.S REIT seeks up to US$470m in second Singapore IPO attempt

It wil offer 566m units at 82 cents.

Canada’s largest life insurer, seeks to raise up to $470 million in its second crack at a Singapore initial public offering of its U.S. properties.

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, according to a prospectus filed today with the city-state regulator. The trust will offer a dividend yield of as much as 6.7 percent for this year and 7.2 percent for 2017, the filing said.

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