RAGS - REUTERS NEWS

[Manx Blue]

Going onto the Singapore Stock exchange later this year.

Snigger

[Beefymcfc]

Where's this come from and what are the details mate, I've not seen this anywhere?

[Manx Blue]

Where's this come from and what are the details mate, I've not seen this anywhere?

It was announced on R5L within the last 30 minutes that they were to be floated on the Singapore stock exchange later this year, early next. BBC stressed this came from Reuters and hadn't been confirmed by the club.

I'll see if I can find some info

[Beefymcfc]

Just seen this:

SINGAPORE -(MarketWatch)- U.K. football club Manchester United Ltd. is planning to raise around US$1 billion from a Singapore initial public offering in the fourth quarter, people familiar with the situation said Tuesday.

They said Credit Suisse Group (CS) has been mandated by the U.K. football club as sole global coordinator and bookrunner on the deal. One person said that other banks will be added as bookrunners on the IPO later on.

The football club, which was once listed on the London Stock Exchange as Manchester United PLC, had initial planned to list in Hong Kong, but changed its mind and has now picked Singapore as a listing venue, the people said.

Manchester United was delisted in 2005 after U.S. tycoon Malcolm Glazer bought the club.

Manchester United wasn't immediately available for comment.

Any market experts to decifer this please; where does this stand with FFP; where the fuck's JF when he's needed?

I just wonder if the money raised goes to the club or to Uncle Malc?

[Alex Sapphire]

Try this:

Reuters

[Manx Blue]

http://online.wsj.com/article/SB1000142 ... lenews_wsj

From The Wall Street Journal (I know they're a well respected media outlet....maybe our US based support can comment on whether they put out reports without foundation?)

By P.R. VENKAT And PRUDENCE HO
SINGAPORE—U.K. soccer club Manchester United Ltd. is planning to raise around US$1 billion from a Singapore initial public offering in the fourth quarter, people familiar with the situation said Tuesday, in the latest foreign listing to tap Asia's funding markets.

They said Credit Suisse Group has been mandated by the U.K. club as sole global coordinator and bookrunner on the deal. One person said that other banks will be added as bookrunners on the IPO later on.

The club, which was once listed on the London Stock Exchange as Manchester United PLC, had initial planned to list in Hong Kong, but changed its mind and has now picked Singapore as a listing venue, the people said.

Singapore has been pushing to position itself as one of the preferred destinations for foreign listings in a bid to compete with Hong Kong, which this year has seen companies such as commodities giant Glencore International AG raise US$10 billion ahead of London and Hong Kong listings in May, and Prada SpA, which raised US$2.15 billion in June.

Apart from Manchester United, people familiar with the situation have said earlier that U.K.'s Fitness First is also looking for a Singapore IPO, which will raise between 600 million and 700 million Singapore dollars (about US$500 million to US$583 million) in the fourth quarter.

Manchester United was delisted in 2005 after U.S. investor Malcolm Glazer bought the club.

Forbes this year ranked Manchester United as the world's most valuable football team in 2011, valuing the club at US$1.86 billion. The club is one of U.K.'s most successful, having been crowned English league champions 19 times and European champions three times in its 133-year history.

Manchester United wasn't immediately available for comment.

[ant london]

Just seen this:

SINGAPORE -(MarketWatch)- U.K. football club Manchester United Ltd. is planning to raise around US$1 billion from a Singapore initial public offering in the fourth quarter, people familiar with the situation said Tuesday.

They said Credit Suisse Group (CS) has been mandated by the U.K. football club as sole global coordinator and bookrunner on the deal. One person said that other banks will be added as bookrunners on the IPO later on.

The football club, which was once listed on the London Stock Exchange as Manchester United PLC, had initial planned to list in Hong Kong, but changed its mind and has now picked Singapore as a listing venue, the people said.

Manchester United was delisted in 2005 after U.S. tycoon Malcolm Glazer bought the club.

Manchester United wasn't immediately available for comment.

Any market experts to decifer this please; where does this stand with FFP; where the fuck's JF when he's needed?

I just wonder if the money raised goes to the club or to Uncle Malc?

Its essentially the Glazers selling some/all of their investment and putting the club back into the hands of the market

What would be bad news is if they use the proceeds of a share issue to pay off some of their debt. Best case would be that Tom....sorry Fidel.....sorry Malcolm sells his shares into the market and the debt stays in place

[Beefymcfc]

But how do the bonds issued affect it going public again, surely these must either be paid off or included in the share price, therefore devalueing them?

[ant london]

But how do the bonds issued affect it going public again, surely these must either be paid off or included in the share price, therefore devalueing them?

They will float with those bonds likely in place (and yes it would affect share price/company valuation) as they will be for a fixed term and usually repaying early will carry quite large penalties. They could be structured with clauses that allow early paydown in case of float/sale but I'd be surprised

[Beefymcfc]

Interesting. Forbes value them at $1.86 billion which equates roughly to £1.1 billion, then if you ake away the bonds element of the reported £700 mil they are left with approximately £400 mil. Would they bring this kind of money in or would it be a lot less due to the current climate and the cost of floating their company?

I could be wrong but this looks like the Glazer's/Taggart are using all means to bring the club in line with FFP as they can't make the desired working profits to service their debts.