Manulife completes $2.5 billion share offering
Company’s capital at highest level since going public
Monday, November 30, 2009
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Manulife Financial Corp. announced on Monday that its offering of $2.5 billion of common shares, announced earlier this month, has been completed.
The common shares were sold to a syndicate of underwriters, led by Scotia Capital Inc. and RBC Dominion Securities Inc., in a bought deal public offering.
Manulife announced on Nov. 18 that it would raise the funds to boost its capital level and to allow the company to take advantage of acquisition and growth opportunities. It said the offering would bring Manulife’s capital to the highest level since it became a public company.
On Nov. 23rd, the company announced a deal to buy Fortis Bank’s 49% interest in China-based ABN AMRO TEDA Fund Management Co. for 105 million euros, or US$156 million.
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