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Man Utd holds float
Source: Agencies |
September 22, 2011, Thursday
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Print Edition
Print Edition
ENGLISH Premier League soccer champions Manchester United have put on hold a US$1 billion flotation in Singapore due to market volatility, while retaining the goal of listing before the end of the year, a source said yesterday.
United, currently top of the Premier League, had aimed for a mid-October float.
The source said: "They are not ready to go because of the way the markets are looking. While they have approval for listing, they certainly do not intend to go immediately. They are biding their time."
The source said launching an initial public offering was off the table for at least a week, adding United still hoped to float by the end of the fourth quarter.
United, currently top of the Premier League, had aimed for a mid-October float.
The source said: "They are not ready to go because of the way the markets are looking. While they have approval for listing, they certainly do not intend to go immediately. They are biding their time."
The source said launching an initial public offering was off the table for at least a week, adding United still hoped to float by the end of the fourth quarter.
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