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Manulife US REIT appoints Citigroup for strategic review

Manulife US REIT has dropped 44% year to date

Manulife US REIT has appointed Citigroup Global Market Singapore as its financial advisor to conduct a “strategic review”, in a bid to see how it can enhance unitholder value.

Manulife US REIT units have dropped around 44% year to date to trade at 38 US cents as at 2.08 pm.

The REIT first announced plans for the review on Nov 2, when it reported operational updates for its 3QFY2022 ended Sept 30.

“There is no assurance that Manulife US REIT will implement any of the options identified through the strategic review.

“If and when there are any material developments which warrant disclosure, the manager will, in compliance with applicable rules, make further announcements as appropriate,” the REIT’s manager adds.

 

 

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