C$ unless otherwise stated
TORONTO, Feb. 22, 2012 /CNW/ - Manulife Financial Corporation
("Manulife") today announced that it has completed its offering of 10
million Non-cumulative Rate Reset Class 1 Shares Series 7 (the "Series
7 Preferred Shares") at a price of $25 per share to raise gross
proceeds of $250 million.
The offering was underwritten by a syndicate of investment dealers
co-led by Scotia Capital Inc., RBC Capital Markets and TD Securities.
The Series 7 Preferred Shares commence trading on the Toronto Stock
Exchange today under the ticker symbol MFC.PR.H.
The Series 7 Preferred Shares were issued under a prospectus supplement
dated February 14, 2012 to Manulife's short form base shelf prospectus
dated September 3, 2010.
The Series 7 Preferred Shares have not been and will not be registered
in the United States under the United States Securities Act of 1933, as
amended (the "Securities Act"), or the securities laws of any state of
the United States and may not be offered, sold or delivered, directly
or indirectly in the United States or to, or for the account or benefit
of, a "U.S. person" (as defined in Regulation S under the Securities
Act) absent registration or an applicable exemption from such
registration requirements. This press release does not constitute an
offer to sell or a solicitation to buy securities in the United States
and any public offering of the securities in the United States must be
made by means of a prospectus.
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group
with principal operations in Asia, Canada and the United States. In
2012, we celebrate 125 years of providing clients with strong,
reliable, trustworthy and forward-thinking solutions for their most
significant financial decisions. Our international network of
employees, agents and distribution partners offers financial protection
and wealth management products and services to millions of clients. We
also provide asset management services to institutional customers.
Funds under management by Manulife Financial and its subsidiaries were
$500 billion (US$491 billion) as at December 31, 2011. The Company
operates as Manulife Financial in Canada and Asia and primarily as John
Hancock in the United States.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE,
and under '945' on the SEHK. Manulife Financial can be found on the
Internet at manulife.com
SOURCE Manulife Financial
For further information:
Anthony G. Ostler