BusinessWeek, 3 Jul 2012Manchester United Ltd., the English soccer team with a record 19 national championships, filed to raise $100 million in a U.S. initial public offering.
United announced its plans for the sale a week after the end of a monthlong drought in U.S. IPOs. The club, owned by the Glazer family, scrapped plans for a Singapore offering as volatile stock markets roiled equity sales, people familiar said at the time. Proceeds from the sale will be used to repay debt, the filing shows.
“The U.S. market has an ability to provide cash,” said Michael Cuggino, who manages about $17 billion at San Francisco- based Pacific Heights Asset Management. “They’re Premier League soccer, so there’s an enterprise value there.” Full story
Related:
Manchester United Seeks IPO of Up to $100 Million - 4-traders
Manchester United Files For IPO On New York Stock Exchange - EPL Talk
Manchester United Files to Go Public - NYTimes.com
Manchester United files to list on New York Stock Exchange - CBS News
Manchester United files for IPO of up to $100 mln - Reuters India
Manchester United plans to float on US stock exchange - The Australian
Man U turns to US to sell its shares - The Sydney Morning Herald
Manchester United picks NYSE for IPO - The Malaysian Insider
