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Manulife Financial Corporation announces increase to Preferred Share issue
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Manulife Financial Corporation announces increase to Preferred Share issue
5/26/2009
TORONTO (May 25, 2009)– Manulife Financial Corporation ("Manulife") today announced that as a result of strong investor demand for its Canadian public offering of Non-cumulative Rate Reset Class 1 Shares Series 1 ("Series 1 Preferred Shares"), which was announced earlier today, the size of the offering has been increased to 14 million shares. The gross proceeds of the offering will now be $350 million. There will not be an underwriters option, as was previously granted. The offering will be underwritten by a syndicate of investment dealers led by Scotia Capital Inc. and RBC Dominion Securities Inc. and is anticipated to qualify as Tier 1 capital for Manulife. The expected closing date for the offering is June 3, 2009.
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