United’s owners revive RM3b IPO plan
United board members Brian (left), Joel (second right) and Avram Glazer (right) watch their players during a training session at Wembley Stadium in London May 27, 2011. — Reuters picLONDON, April 15 — The owners of football club Manchester United have reactivated an earlier plan to float its shares on the stock market in Singapore following improved market conditions, the Sunday Times reported.
The Florida-based Glazer family is looking to raise up to £600 million (BM3 billion) by selling 25 to 30 per cent of the club via an initial public offering that would value it at up to £2 billion, the newspaper said.
A spokesman for Manchester United said, “We don’t comment on this sort of speculation”.
Manchester United had eyed a US$1 billion (RM3 billion) flotation in Singapore last year but shelved it due to market volatility, a source close to the IPO told Reuters in September.
In recent months, bankers have told Reuters they expect the deal to be revived this year. — Reuters
