Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, May 21, 8:28 AM
|This Slide: #536 of 581|
Slide #536. Manulife Financial Corporation — Preferred Stock Offering
Manulife Financial Corporation (NYSE:MFC)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
Manulife Financial Corporation ("Manulife") today announced a Canadian public offering of Non-cumulative Rate Reset Class 1 Shares Series 11 ("Series 11 Preferred Shares"). Manulife will issue 8 million Series 11 Preferred Shares priced at $25 per share to raise gross proceeds of $200 million. The offering will be underwritten by a syndicate of investment dealers co-led by Scotiabank, RBC Captial Markets and TD Securities Inc. and is anticipated to qualify as Tier 1 capital for Manulife. The expected closing date for the offering is December 4, 2012. Manulife intends to file a prospectus supplement to its July 18, 2012 base shelf prospectus in respect of this issue. --updated 12/4/12 - Manulife Financial Corporation ("Manulife") today announced that it has completed its offering of 8 million Non-cumulative Rate Reset Class 1 Shares Series 11 (the "Series 11 Preferred Shares") at a price of $25 per share to raise gross proceeds of $200 million.
Manulife Financial is a holding company. Through its subsidiaries, Co. is a life insurance company. Co.'s four operating segments are: Asia, which includes a range of health, protection, savings, medical, term and whole life products; Canada, which provides life, health, disability and specialty products, such as mortgage creditor and travel insurance; U.S., which provides a range of life insurance products, insurance-based wealth accumulation products, and has an in-force long-term care insurance business and an in-force annuity business; and Global Wealth and Asset Management, which provides investment advice and solutions to retirement, retail and institutional clients.
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Hold (2.50 out of 4)
(ranked lower than approx. 98% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com