625.5 million units of Singapore’s latest office REIT, Manulife US REIT, will debut on the Singapore Exchange from 2 p.m. on 20 May, a disclosure lodged with the bourse has confirmed.

The confirmation represents Manulife’s second attempt to list a REIT of its properties in Singapore after an earlier attempt in July 2015 was shelved due to volatile market conditions. The REIT will be denominated in USD and debut at a price of USD0.83 a piece.

45.7 million units were offered to the public while 350.7 million units were placed for investors outside the United States. The REIT’s initial public offering is estimated to raise some USD470 million (SGD644 million).

Cornerstone investors that have committed to the REIT include Oman Investment Fund, Fortress Capital Asset Management and a number of private-banking clients of DBS Bank Limited.

Manulife US REIT has described itself as a security that invests in a portfolio of income-producing office real estate in key markets in the United States. This is the first pure-play US office REIT to be listed in Asia.

The REIT’s initial portfolio will comprise three freehold office properties. These are namely 865 South Figueroa Street in Los Angeles, California, 3161 Michelson Drive in Irvine, California and 1100 Peachtree Street in Atlanta, Georgia.