John Hancock Launches $322M Fund IPO

John Hancock Fundsis starting the initial public offering of theJohn Hancock Hedged Equity & Income Fund. The Boston-based mutual fund business unit ofJohn Hancock Financialis issuing $322.32 million shares of the fund. The IPO size includes an over-allotment option for the firm’s underwriters to buy an additional 16.116 million shares.

Morgan StanleyandCitigroup Global Marketsare the lead underwriters in the offering, whileBofA Merrill Lynch,UBS InvestmentBankandWells Fargo Securitiesare the co-lead managers. The hedged equity and income fund, created in partnership withWellington Management, will invest at least 80% of its total assets in equity and equity-related securities.

Click here for the release fromPR Newswire.