UPDATE 1-Brookfield Properties prices share offering

* Prices 95 mln common share offering at $9.50 each

* Shares halted before pricing, rise after trading resumes (Adds details; in U.S. dollars unless noted)

TORONTO, Aug 12 (Reuters) - Brookfield Properties (BPO.TO) said on Wednesday that it has priced its $902.5 million common share offering at $9.50 apiece.

The company said it has agreed to sell half its 95 million share offering to the public and the other half to its parent, Brookfield Asset Management (BAMa.TO).

Brookfield Asset has agreed to purchase more shares if underwriter options are exercised so that its majority voting interest is maintained.

Brookfield Asset currently holds an 51 percent stake in Brookfield Properties, one of Manhattan's largest landlords.

RBC Capital Markets, Citi, Deutsche Bank Securities and TD Securities were joint book-running managers and underwriters for the offering.

Closing for the combined share issuances is expected to be on or about Aug. 21.

Trading was halted on Brookfield Properties' Toronto and New York-listed shares ahead of the pricing. The shares initially weakened after trading resumed, then headed higher.

Brookfield Properties was up 1.3 percent at C$11.44 in Toronto, and ahead 2.3 percent at $10.50 in New York. Brookfield Asset was up 1 percent in Toronto at C$22.00.

After markets closed on Tuesday, the two companies jointly announced they would launch a $4 billion investment consortium aimed at taking advantage of real estate prices knocked lower by the "current distressed economic environment." [ID:nN11540379] (Reporting by Ka Yan Ng; editing by Rob Wilson)