Manulife US Reit

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singapore reits

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.

Manulife US Reit plans to start trading on May 20 2016.