Analysts say the announced initial public offering (IPO) can take advantage of the depth of capital markets in Asia, where an estimated 190 million United fans, or more than half of the estimated 300 million followers worldwide.
The Straits Times newspaper that he met representatives of the English champions Singapore Exchange (SGX) officials recently. Representatives Glazers, the American family owns the debt-stricken club, bankers have a meeting in the city-state, he said.
English soccer club Manchester United plans to tap the huge Asian fan base, and raise $ 1000000000 through a lucrative part of the list in Singapore, according to media reports today.
The Red Devils in the Premier League title holders, business magazine Forbes ranked the most valuable football club in the world this year with a value of $ 1,860,000,000th
Singapore state investment agency Temasek Holdings is an eye as a cornerstone investor, the newspaper added. The SGX spokesperson said that the exchange rate policy not to comment on press.
According to sources, the IPO was planned that in the fourth quarter of 2011 and the Credit Swiss Group was appointed sole global coordinator and bookrunner on the deal.
The estimated $ 1 billion for 30% of the total shares in the club’s valuation of the company more than $ 3 billion, far higher than the other, as estimated by Forbes.
Singapore Business Times also noted that the timing of the United IPO comes before the new UEFA regulations making it mandatory for European clubs to break even from the beginning of the 2013/2014 season. If not, we risk being excluded from European club competitions.
The club, which at one time listed on the London Stock Exchange as the Manchester United PLC, allegedly planned to list in Hong Kong. But he changed his mind and now prefer a list of regional rival Hong Kong, Singapore as the source.
United is also deleted from the London exchange in 2005 after U.S. tycoon Malcolm Glazer bought the club for an agreement, which is heavily dependent on debt financing. Family ownership is deeply unpopular with United fans. Singapore Business Times that the business is £ 717m in the red.
English football matter between the rich Asians the most ardent fans. Singapore billionaire Peter Lim, a United fan by his own admission, last year lost a bid to buy Liverpool for £ 320 million.
The list of Singapore to the United States would raise the city’s credentials as a financial center. The Chinese port conglomerate Hutchison Whampoa unit of Hong Kong – Hutchison Port Holdings Trust – raised $ 5500000000 in Singapore this year.
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