ManU May Score a $1B Singapore IPO

by Todd Shriber

If news that the recent tumble experienced by global equity markets has dampened the environment for initial public offerings has you feeling blue, don’t fret because one of the most recognizable brands in the world is said to be preparing a $1 billion IPO that may happen as soon as this year.

That’s right football fans (the non-American kind), Manchester United is said to be planning a $1 billion Singapore IPO, Bloomberg reported, citing two unidentified people with knowledge of the matter. As Trader Daily reported back in June, ManU was mulling a Hong Kong IPO, but it is now leaning toward Singapore, according to Bloomberg.

Either way, the shares won’t be listed in the U.S., home of the Glazer family, which owns the storied football club along with the National Football League’s Tampa Bay Buccaneers. Listing in Asia makes for sense for ManU, the 19-time English Premier League champion.

To say the club is popular in the Asia-Pacific region is an understatement. The team has droves of loyal supporters in Australia, China, India, Indonesia and Vietnam, just to name a few countries from that part of the globe, London’s Telegraph reported.

Despite all the fervor, ManU shares an interesting tidbit in common with some of the widely anticipated U.S. Internet IPOs investors have been so anxious to see: The offering may price at far more than it’s actually worth. Seeking $1 billion for as little as 25% values the business at about double its real worth, Bloomberg reported, citing a banker who specializes in football finance.

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