Join Now | 
HomeAboutContact UsPrivacy & SecurityAdvertise
Soccer America DailySpecial EditionAround The NetSoccer Business InsiderCollege Soccer ReporterYouth Soccer ReporterSoccer on TVSoccer America Classifieds
Paul Gardner: SoccerTalkSoccer America ConfidentialYouth Soccer InsiderWorld Cup Watch
RSS FeedsArchivesManage SubscriptionsSubscribe
Order Current IssueSubscribeManage My SubscriptionRenew My SubscriptionGift Subscription
My AccountJoin Now
Tournament CalendarCamps & AcademiesSoccer GlossaryClassifieds
Man United listing bid on Singapore Exchange approved
Reuters, September 16th, 2011 4:07PM

MOST READ

MOST COMMENTED

Reuters is reporting that Manchester United, in an attempt to reduce a debt estimated at nearly $500 million, has received approval from the Singapore Exchange to list $1 billion worth of non-voting shares.

Listing on the Singapore Exchange would also extend the club's influence in Asia, which with its stronger markets and huge fan base is an attractive option for expansion and growth.

The preference shares -- similar to the preferred stock offered by many companies -- would not affect ownership of the club, which has been held by the family of American entrepreneur Malcolm Glazer since 2005, but could offer a higher yield on return. Preference shares receive priority over ordinary shares for dividend payments and in the event of liquidation.

Lorraine Tan, director of Asia equity research at S&P Capital IQ, a unit of Standard & Poor's, said, "Investor interest is always going to be a question of valuation, but they are a big enough brand name, so I think they are not going to be heavily discounted like an unknown company."

Read the original story...


No comments yet.

Sign in to leave a comment. Don't have an account? Join Now




AUTHORS

ARCHIVES
FOLLOW SOCCERAMERICA

Recent Section 2 Around the Net
Ranieri Named Greece Coach     
Claudio Ranieri on Friday signed a two-year deal to manage Greece. The 62-year-old Italian replaces Fernando ...
West Ham's Carroll to Miss Four Months    
West Ham striker Andy Carroll is set to miss up to four months after suffering ankle ...
Pinto Quits Costa Rica     
Jorge Luis Pinto, who guided Costa Rica to a surprise quarterfinal finish at the World Cup ...
Cech to Fight for Chelsea Place    
Petr Cech has vowed to stay and fight for his place as his decade-long reign as ...
Mourinho: Drogba 'Belongs' to Chelsea    
Jose Mourinho on Friday admitted that he is considering re-signing Chelsea legend Didier Drogba, who is ...
Maradona Blasts Argentina's Coaching Decisions    
Former Argentina captain Diego Maradona, who famously inspired the Albiceleste to World Cup glory at the ...
FIFA Backs 2018 Russia World Cup     
FIFA on Friday said it remains committed to the 2018 World Cup in Russia, despite the ...
NBC Brings EPL to Movie Theaters    
NBC Sports and Fathom Events are teaming up to show English Premier League games on Saturday ...
Aguirre Named Japan Coach     
Former Mexico coach Javier Aguirre on Thursday was appointed head coach of the Japanese national team, ...
Swans Sign Montero    
Swansea on Thursday signed Ecuadorian winger Jefferson Montero on a four-year deal from Mexican club Morelia. ...
>> Section 2 Around the Net Archives