<article>Canadian insurer <a style="color: #000080;" href="https://www.manulife.com/public/home/index/0,,lang=en,00.html" target="_blank">Manulife Financial Corp</a> is planning an up to $450 million Singapore initial public offering for some of its some of its U.S. property assets, multiple media reports said.</article>

Canadian insurer <a style="color: #000080;" href="https://www.manulife.com/public/home/index/0,,lang=en,00.html" target="_blank">Manulife Financial Corp</a> is planning an up to $450 million Singapore initial public offering for some of its some of its U.S. property assets, multiple media reports said.
The listing would use the real estate investment trust (REIT) structure and the IPO is targeted at ‘Asian investors hunting for stable cash flows and higher-yielding assets amid paltry yields on offer in the bond market’, a report in the <a href="http://www.wsj.com/articles/manulife-arm-plans-singapore-listing-for-u-s-office-assets-1432182144" target="_blank">Wall Street Journal </a>said.
Another report in international news wire Reuters <a style="color: #000080;" href="http://www.reuters.com/article/2015/05/21/manulife-finl-singapore-ipo-idUSL3N0YC3FI20150521" target="_blank">said</a> that <a style="color: #000080;" href="https://www.dbs.com.sg/index/default.page" target="_blank">DBS Bank</a> and <a style="color: #000080;" href="https://www.jpmorgan.com/pages/jpmorgan" target="_blank">JPMorgan</a> were advising Manulife on the IPO, and the report also added that the Canadian insurer’s  ‘U.S. real estate portfolio had a market value of $6.3 billion as of December 2014’.
If the listing happens, it would turn out to be Singapore’s biggest IPO this year and could help lift a drought for new listings here. This could also mark the first time since March 2005 that a U.S. company is listing in the city-state. The last US firm to do so was <a style="color: #000080;" href="http://www.lmanv.com/Pages/default.aspx" target="_blank">LMA International NV</a> that had raised US$154 million with its IPO here.
While Singapore has traditionally attracted REITs, and has about 90 real-estate investment trusts and other trusts, with a combined market capitalization $129.52 billion, the city-stare off late has failed to have any big-ticket listings. In fact, it has been one of the weakest IPO markets in Asia this year, and companies have raised a mere $33 million through floats this fiscal, compared to $619 million during the same period last year.
<a style="color: #000080;" href="http://www.dealstreetasia.com/" target="_blank">DEALSTREETASIA</a> has recently reported that China’s <a href="http://www.kailongrei.com/en/">Kailong REIT </a>was alsso planning a $151 million initial public offering on the Singapore stock exchange in July.
Also Read: <a style="color: #ff0000;" title="China’s Kailong REIT plans $151m IPO in Singapore: Report" href="http://www.dealstreetasia.com/stories/chinas-kailong-reit-plans-151m-ipo-in-singapore-report-5837/" rel="bookmark">China’s Kailong REIT plans $151m IPO in Singapore: Report</a>
Image: <a style="color: #000080;" href="http://www.freedigitalphotos.net/images/business-graph-photo-p205795" target="_blank">Freedigitalpictures.net</a>
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Manulife Financial Corp is planning an up to $450 million Singapore initial public offering for some of its some of its U.S. property assets

Manulife plans $450m IPO of US assets in Singapore: Report

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Manulife plans $450m IPO of US assets in Singapore: Report

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