Man United to start IPO
Source: Bloomberg News |
August 20, 2011, Saturday
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Print Edition
Print Edition
MANCHESTER United Ltd, the record 19-time English soccer champion, may start gauging investor demand next month for a US$1 billion initial public offering in Singapore, three people with knowledge of the matter said yesterday.
The soccer club is scheduled to hold an analyst presentation for the deal next week, said the people, who asked not to be identified because the process is private. It hired JPMorgan Chase & Co and Morgan Stanley as so-called bookrunners for the IPO together with Credit Suisse Group AG, the people said.
As much as 30 percent of the club will be sold in the IPO, which would give the club an enterprise value, or the sum of its stock and debt minus cash, of about US$3.8 billion, one of the people said.
The soccer club is scheduled to hold an analyst presentation for the deal next week, said the people, who asked not to be identified because the process is private. It hired JPMorgan Chase & Co and Morgan Stanley as so-called bookrunners for the IPO together with Credit Suisse Group AG, the people said.
As much as 30 percent of the club will be sold in the IPO, which would give the club an enterprise value, or the sum of its stock and debt minus cash, of about US$3.8 billion, one of the people said.
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