Manulife Financial Corp. has completed its domestic offering of 14 million Non-cumulative Rate Reset Class 1 Shares Series 1, the company said Wednesday.

Priced at $25 a share, the offering raised gross proceeds of $350 million, after underwriters exercised their over-allotment option.

The offering was underwritten by a syndicate of investment dealers led by Scotia Capital Inc. and RBC Dominion Securities Inc.

The Series 1 Preferred Shares commenced trading on the Toronto Stock Exchange Wednesday under the ticker symbol MFC.PR.E.

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