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Man United listing
Source: Agencies |
September 17, 2011, Saturday
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Print Edition
Print Edition
MANCHESTER United's planned US$1 billion public offering has been approved by Singapore's stock exchange, a person familiar with the deal said yesterday. The initial public offering will likely happen by the end of this year and involve ordinary and nonvoting preferred shares.
United, owned by the American Glazer family, has been valued at US$1.9 billion by Forbes magazine, which has ranked it as football's most valuable team for the last seven years. However, the club has about US$750 million of debt. It was bought by the Glazers for US$1.4 billion in 2005 when they de-listed it from the London Stock Exchange.
United, owned by the American Glazer family, has been valued at US$1.9 billion by Forbes magazine, which has ranked it as football's most valuable team for the last seven years. However, the club has about US$750 million of debt. It was bought by the Glazers for US$1.4 billion in 2005 when they de-listed it from the London Stock Exchange.
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