Manulife Completes Preferred Shares Offering

A Canadian-based insurer has completed an offering of shares yielding $200 million in proceeds.

Manulife Financial Corporation, Toronto, says it has completed an offering of 8 million Series 3 preferred at a price of $25 per share to raise gross proceeds of $200 million (CDN).

The offering was underwritten by a syndicate of investment dealers led by Scotia Capital Inc. and RBC Dominion Securities Inc. The Series 3 preferred shares began trading on the Toronto Stock Exchange under the ticker symbol MFC.PR.F.