Manchester United May Rely on Asian Fan Support in Singapore IPO
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Manchester United may rely on Asian fans buying shares with their hearts, rather than their heads, as the 19-time English soccer champion plans a $1 billion initial public offering in Singapore.
Analysts and fans say the sale of as much as 30 percent of the club may tempt retail investors with affection for United as opposed to institutions. The U.S.-based Glazers bought United for 790 million pounds ($1.3 billion) in 2005. The proposed IPO implies a value of more than $3 billion. The owners will use the proceeds to cut debt and invest in players, said two people with knowledge of the decision. The club hasn’t confirmed the plan.