Billionaire Soros buys a stake in Manchester club
Source: AFP |
August 22, 2012, Wednesday
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Print Edition
Print Edition
US billionaire George Soros has bought a stake in Manchester United, which made its Wall Street debut earlier this month, according to a filing with US regulators.
Soros' investment firm bought approximately 3.1 million Class A shares, or 7.85 percent of the total Class A shares, a filing with the US Securities and Exchange Commission revealed.
That comprises 1.9 percent of Manchester United, when the powerful Class B shares held by members of the Glazer family, who control the club, are taken into account.
After an underwhelming initial public offering on August 10, shares in the club finished Monday at US$13.06, down 6.7 percent from the IPO price of US$14.
Soros' investment firm bought approximately 3.1 million Class A shares, or 7.85 percent of the total Class A shares, a filing with the US Securities and Exchange Commission revealed.
That comprises 1.9 percent of Manchester United, when the powerful Class B shares held by members of the Glazer family, who control the club, are taken into account.
After an underwhelming initial public offering on August 10, shares in the club finished Monday at US$13.06, down 6.7 percent from the IPO price of US$14.
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