Manulife shelves Singapore's biggest IPO as global markets wobble

Blame it on Greece and China.

Canada's Manulife Financial Corp shelved its S$569 million ($420 million) IPO of a real estate investment trust in Singapore on Monday, the first major Asian offering outside China to be pulled due to deteriorating global markets.

A report by Reuters said that the postponement of the IPO, which had been slated to be Singapore's biggest in a year, came as Greeks overwhelmingly rejected conditions of a rescue package from creditors on Sunday and as China rolled out an unprecedented series of steps to prevent a full-blown stock market crash.

Read the report in full here.
 

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!