Manulife is on course to complete a $470 million Singapore listing of its US office real estate investment trust at the second time of asking, giving S-Reit deal makers a welcome confidence boost after a prolonged period of market inactivity.
The Canadian financial services group failed at the first attempt in July last year but this time achieved much stronger traction with a slightly bigger deal, thanks to the higher yield on offer and the relatively calmer state of markets.
With just one initial public offering to Singapore's name last year, equity banker hopes in the Lion City could rest on Manulife...
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