The $420 million IPO of a real estate investment trust in Singapore has been put on hold by Canadian bank and mortgage lender Manulife Financial due to weakness in global markets. As Asian stocks fell Monday following the Greek vote Manulife decided that it would not be the right time to launch the IPO, which would have been the largest in the city state so far this year. The company said it may go ahead at a later date depending on market conditions.
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