SINGAPORE - Manulife US Reit's private placement and preferential offering has netted gross proceeds of about US$142.7 million after both priced in at the top end of their issue price range, its manager said on Friday .
The issue price of the private placement, which was more than seven times covered, was US$0.876 per unit. It represents a discount of 3.6 per cent to the volume weighted average price of US$0.9089 for all units traded on Wednesday, the last market day before the placement's underwriting agreement was signed.The preferential offering's issue price was US$0.86 per unit, representing a discount of 5.4 per cent to the VWAP of US$0.9089 per unit. Its price range was between US$$0.
About US$7.3 million will be used to pay for fees and expenses related to the two equity fundraising exercises.
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