Manulife Financial Corp. (MFC) announced after the bell Wednesday that it agreed to issue common shares to a syndicate of underwriters for an aggregate price of $2,500,400,000 in a "bought deal" public offering in Canada. The purchase price of the shares under the public offering is $19.00 per share.
Manulife Financial gapped open sharply lower Thursday morning and is now down 1.52 at $17.50. The stock has dropped to a 4-month low and has fallen below its 200-day moving average.
For comments and feedback: editorial@rttnews.com