Manulife completes preferred share issue

On February 25, 2016, Manulife Financial Corporation ("Manulife") completed a Canadian public offering of non-cumulative rate reset Class 1 Shares Series 21. Under the terms of the offering, Manulife issued 16 million preferred shares priced at C$25 per share to raise gross proceeds of C$400 million. The offering was underwritten by a syndicate of investment dealers co-led by RBC Capital Markets, Scotia Capital Inc. and TD Securities Inc. On March 3, 2016, the underwriters exercised their option to purchase an additional 1 million shares at the offering price, increasing the gross proceeds by $25 million to C$425 million.

Manulife is a leading international financial services group providing forward-thinking solutions to help people with their big financial decisions.

Further information can be found on Canada Newswire's website.