Manchester United Files For IPO On New York Stock Exchange

Manchester United Ltd. has filed a registration with the U.S. Security and Exchange Commission (SEC) to offer stock to U.S. investors via an Initial Public Offering (IPO).

Manchester United intends to raise up to USD $100 million from the sale of Class A ordinary stock, which will be listed on the New York Stock Exchange (NYSE). Originally, the club had entertained going on the Singapore stock exchange, but changed its mind and has focused on the NYSE instead. Manchester United is expected to hold the U.S. offering later this summer.

According to the filing, Manchester United has moved the club’s registration to the tax haven of Cayman Islands.

“The principal intention, set out in a US Stock Exchange registration statement, is to sell enough shares to new investors to pay off an as yet unspecified portion of United’s £423m debts, which the Glazers loaded on to the club when they bought it in 2005,” said David Conn, in The Guardian. “To date the Glazers’ takeover has cost United more than £500m in interest, bank charges and fees, after they borrowed £525m to buy the club, then made it responsible for servicing their debts.”

9 thoughts on “Manchester United Files For IPO On New York Stock Exchange”

  1. Is this a sign that the Glazers will sell use the ipo to clear the debt and pure profit when they sell.inquiring minds want to know.

  2. I own a share of the Green Bay Packers and now I can buy a share of Manchester United. How much? Can’t wait to tell Fergie who to start.

  3. So, any real benefit to owning shares? Discounted home tickets, free kits, a simulated Fergie hairdryer just like Beckham used to get? Because this is dead money before the first share is traded…

  4. This is actually quite small as IPOs go. Glazers were originally talking about a significantly larger float when they considered Singapore.

    Interesting to see that Morgan Stanley is out of the picture as underwriter. This had been the original plan, but a few weeks ago the news was that they were disputing the Glazers’ estimates of the club’s worth.

    Also interesting to see them doing this now, as the IPO market as a whole is relatively hideous. Might be an attempt to generate some cash to get a little bit more ahead of their debt service. But one never really knows with these financial matters.

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