Manchester United share sales may move from Singapore to USA

Published:  15 Jun at 6 PM

Manchester United football club has announced its tentative plan to move its upcoming stock market flotation from Singapore to the United States.

Previously, Manchester United was planning a $1 billion share sale at the Singapore Stock Exchange. If its share listing is moved, this would be the most recent in a series of cancelled or delayed stock sales in Asia.

The firm could not be contacted for any comment, while the Singapore Stock Exchange refused to give out information on individual firms.

One report suggests that the move is targeted at getting a higher valuation. However, some experts said the motivation could be an effort by Malcolm Glazer, the owner of the club, to maintain control by utilising a share structure that is dual-class.

American investors are more accustomed to the dual-class structure, which allows a separate sequence of non-voting shares.

Last September, the football club was given approval for the share sale in Singapore, although the process was delayed due to volatility in the markets.