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Tuesday, 16 August 2011

Plans to sell shares emerging from Dow Jones. #mufc

This story emerged towards the end of the 2011/12 Premier League season and has now resurfaced again.
Talk of Manchester United going back on the market may lead to a change of ownership which to be honest, I am not sure whether it's good or bad news.  The Glazers have many detractors but apart from ticket price rises I can't really think of anything to criticise them over.  Sir Alex has always backed them so I see no real reason to feel unhappy.  A much greater fear for me is that Manchester United Football Club might become the trophy-piece of an Oligarch, Sheik, Gangster or some other kind of Royal brat.  Anyway her's the article, ramble complete.

Manchester United plan IPO in Singapore: Dow Jones

The English Premier League giants Manchester United plan to raise one billion US dollars in an initial public offering (IPO) in Singapore later this year, Dow Jones Newswires reported Tuesday.
The share sale is planned for the fourth quarter, Dow Jones said, quoting people familiar with the situation.
Credit Suisse Group has been mandated by as sole global coordinator and bookrunner on the deal, said the the sources, who were not named. One source said other banks are expected to be added as bookrunners later.
The club, which was once listed on the London Stock Exchange as Manchester United PLC, had initially planned to list in Hong Kong.
But the club changed is its mind and now prefers to list in Hong Kong's regional rival Singapore, according to the Dow Jones sources.
United were delisted from the London exchange in 2005 after US tycoon Malcolm Glazer bought the club.
A Singapore listing by United, ranked by Forbes earlier this year as the world's most valuable football team in 2011 with a value of $1.86 billion, is expected to boost the city-state's credentials as a financial centre.
Analysts said United have chosen to list in Asia because of the club's popularity in the football-mad region where it has legions of fans.
United have been seeking ways to cut financing costs and raise money to expand their lucrative business, as well as acquire players to strengthen the club.

Article from Yahoo news.
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