Manulife Financial Corp. in Toronto said Friday that it has completed an offering of 14 million 4.65% noncumulative class A preferred shares at a price of about $20.38 per share, for an aggregate of $285 million.
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The offering was underwritten by a syndicate of investment dealers led by Scotia Capital Inc. The shares were not and will not be registered in the United States, Manulife said.
Manulife Financial is a financial services group with customers in 19 countries and territories. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the company offers financial protection products and wealth management services. It had $289 billion of assets under management at Dec. 31.
