Man U to dual list in SGX

Rogue Trader

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• Aug 17, 2011

• #1

Manchester United plans $1bn Singapore stock market listing
Manchester United is reportedly planning to raise $1bn by selling shares on the Singapore stock market before the end of the year.

Manchester United was publicly-listed in the UK until the Glazer family took it private in a £790m takeover in 2005. Photo: ACTION IMAGES

1:46PM BST 16 Aug 2011

The English football club aims to carry out the initial public offering (IPO) in the final quarter of this year, the Wall Street Journal reported, citing people familiar with the situation.

Manchester United's Singapore share sale was also reported by IFR.

There had been speculation the club was looking to sell shares in Hong Kong, after the Sunday Mirror reported earlier this month that the Glazer family, which owns Manchester United, was planning to sell as much as 25pc of its stake in an IPO.

However Hong Kong does not allow companies making a loss - which Manchester United is due to its large debt repayments - to list there.

Manchester United was publicly-listed in the UK until the Glazer family took it private in a £790m takeover in 2005.

The club has 300m fans in Asia, and the support in the region is helping to boost its revenues.

The Wall Street Journal said Credit Suisse has been picked by Manchester United as the global coordinator and bookrunner on the IPO.

 

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ballsathome

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• Aug 17, 2011

• #2

There is no romance in football. Wait.. Who said that? Oh that £50 million under performed, under pressure but star player Spaniard.

I can like and admire a player for his skills but there is no romance in a club. I never liked Man Utd as a club and some of the cocky players just made it worse for non Man Utd fans but come a match day where there's a clear opportunity for some pocket money to be made and to make the game more interesting, i'll have to put my $ on where it should be.

 

Rogue Trader

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• Aug 17, 2011

• #3

I advise anyone not to cheong into these shares as the Glazers are greedy cunts who has plunged the club into a quicksand of debt. note the sentence below:

However Hong Kong does not allow companies making a loss - which Manchester United is due to its large debt repayments - to list there.

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unfortunately, many Man u fans in Asia who will blindly sarpok the listing.

 

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ballsathome

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• Aug 17, 2011

• #4

Rogue Trader said:

I advise anyone not to cheong into these shares as the Glazers are greedy cunts who has plunged the club into a quicksand of debt. note the sentence below:
unfortunately, many Man u fans in Asia who will blindly sarpok the listing.

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They will. Those staunch supporters.

Clubs that can score 9+ goals gets my support. eg Real Madrid, Bayern Munich. Not even Barcelona even though they were the better team over Real Madrid last season.

 

Last edited: Aug 17, 2011

zeddy

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• Aug 17, 2011

• #5

The Glazers just cannot be trusted... They are just in it for the money... They love the club... Ha..Ha..Ha.. Its a joke.. They don't even know what offside means.. In the future, they will sell Man Utd to the highest bidder..

 

red amoeba

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• Aug 17, 2011

• #6

it is daff that SGX will allow them to list. If HK bar them due to their loss making, SGX should emulate and not accept in view of the $$..what is the message that they are sending across to the financial mkt?

Aspiring international stock mkt will have to enforce strict regulations - no wonder HK is always ahead of Singapore in terms of being an international financial centre. Anyways, if SGX accepts, they will be grilled left right centre by reporters concerning Man U's financial health.

 

Muthukali

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• Aug 17, 2011

• #7

Like that also can list? Next time horse racing can list or not?

 

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GOD IS MY DOG

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Asset

• Aug 17, 2011

• #8

might as well use the money to buy durians and throw at people..............

or into the sea................at least got sound...............



throw money into Man U is like throwing money into the sea..................no sound one

 

po2wq

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• Aug 17, 2011

• #9

Muthukali said:

Like that also can list? Next time horse racing can list or not?

Click to expand...

gambling dens oso can ... y cannot? ...

chicken coops oso can! ...

 

Rogue Trader

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• Aug 17, 2011

• #10

red amoeba said:

it is daff that SGX will allow them to list. If HK bar them due to their loss making, SGX should emulate and not accept in view of the $$..what is the message that they are sending across to the financial mkt?

Aspiring international stock mkt will have to enforce strict regulations - no wonder HK is always ahead of Singapore in terms of being an international financial centre. Anyways, if SGX accepts, they will be grilled left right centre by reporters concerning Man U's financial health.

Click to expand...

I agree. Man U is heavily in debt thanks to the Glazers' heavy borrowing to buy them. The interest repayment alone is making them lose money. The idea of listing in SGX is to convert their debt into equity. Whether their business model is truly viable is debatable.

Sounds like the S-chip fiasco all over again.

 

KNNBCCB

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• Aug 17, 2011

• #11

Geylang United FC listed better. Joker.

 

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sleaguepunter

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• Aug 17, 2011

• #12

spore proclaim to be a financial hub yet STI was never mention in BBC or CNN financial news segment. They only report the Nikkei, Hangseng, Kopi and the australia bourses.

nobody shd touch the manure ipo as it toxic. What assets do the manure have other than the players? Players shd never be included in the balance sheet in the first place. They value the club at 3b pounds, i wonder if the branding is worth as much as proclaim. So what asia have 300 million fans, are those fans loaded? this is asia, many wear fake jersey. Ah tiong land can fake iphone shop so nothing will stop them from opening fake manure shop too.

 

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ballsathome

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• Aug 17, 2011

• #13

Glazers linked with United sale

16 August 2011

Manchester United's owners, the Glazer family, could be set to sell their stake in the club amid reports of a $US1 billion floatation.

The American owners are reportedly preparing an initial public offering for up to 25 percent of the club by the end of the year, depending on market conditions. However, senior Manchester United figures have told Goal.com that the Glazers are set to float the English Premier League club on the Singapore stock exchange and sell their entire stake, which they bought for 790 million pounds in a leveraged buyout in May 2005.​

The Qatari government has previously been credited with an interest in buying United, but the Glazers' reported 1.7 billion-pound valuation is said to have been too prohibitive. The latest reports come two months after it was speculated that the Glazers were considering floating the club on the Hong Kong stock exchange.

The club is said to be looking to slash its 500 million-pound debts, which are still costing United 45 million pounds a year to service. The fees remain despite paying out around 350 million pounds to service the loans taken on to buy the club six years ago.

The Glazers' ownership has been shrouded in controversy, with many United fans angry that the club is in such debt despite an annual turnover of 286 million pounds in its latest accounts for the year to June 30, 2010. A group of bankers and lawyers in opposition to the Glazers' ownership attempted a one billion-pound takeover of the club in 2009.

The Americans, who also own NFL franchise Tampa Bay Buccaneers, have been constantly trying to wrestle with the club's finances. In January 2010, a bond issue raised 526 million pounds to help them cut the mammoth costs of servicing the club's debts. Shortly after, they paid off high-interest payment-in-kind notes of 220 million pounds.

 

jw5

Moderator

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Loyal

• Aug 17, 2011

• #14

Hehehe, now for our chance to finance their exorbitant players' salaries, transfer fees and interest payments.

 

Narong Wongwan

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• Aug 17, 2011

• #15

Peter Lim got a share of this action?

 

aerobwala

Alfrescian

Loyal

• Aug 17, 2011

• #16

An alternative reference point for salary review committee.

Futebol Finance's 50 highest paid players in world football
Ranking No - Name, Club - Pay
18 - Rio Ferdinand, Manchester United - £5.60million
20 - Wayne Rooney, Manchester United - £5.20million
46 - Dimitar Berbatov, Manchester United - £4.10million
49 - Ryan Giggs, Manchester United - £4.10million

 

Rogue Trader

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• Aug 17, 2011

• #17

There's actually talk that the EPL and la liga are at the risk of implosion with the eurozone credit crisis still looming. Seriously, how sustainable is an industry when players are getting paid 100,000 pounds a week?

 

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youallhumsup

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• Aug 19, 2011

• #18

You can support Man Yoo without using your $ but those who wants to finance and invest in this prestigious football club that has been in debt ever since the Glazer Family took over are truly......

Man Utd adds Morgan Stanley, JPMorgan for IPO

Published on Aug 19, 2011

English Premier League football champions Manchester United Ltd added Morgan Stanley and JPMorgan Chase & Co to help manage its planned US$1 billion (S$1.22 billion) initial public offering in Singapore, sources with direct knowledge of the plans said on Friday. -- PHOTO: AP

HONG KONG (Reuters) - English Premier League football champions Manchester United Ltd added Morgan Stanley and JPMorgan Chase & Co to help manage its planned US$1 billion (S$1.22 billion) initial public offering in Singapore, sources with direct knowledge of the plans said on Friday.

The club had already appointed Credit Suisse Group AG as a global coordinator for the offering, a source said on Thursday.

A second source added that United's owning Glazer family planned to use some of the funds raised from the offering to reduce the club's huge debt pile, a burden that has made the Americans deeply unpopular with many fans.

Spokespeople for JPMorgan and Morgan Stanley in Hong Kong declined to comment on the IPO mandates.

A Singapore listing will mark a second stock market incarnation for the club, which was listed in London before being taken over by the Glazers in 2005.

Asia, a key region for many English football teams, has become an important growth area for United and is home to more than 190 million of its estimated 333 million fans.

 

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youallhumsup

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• Sep 17, 2011

• #19

In debt Man Utd has won approval from desperate SSE for Singapore listing


In debt Man Utd has won approval from desperate SSE for Singapore listing.

Manchester United wins approval for Singapore listing
Published on Sep 16, 2011

The UK football club is expected to list both voting shares and non-voting preference shares in a bid to raise up to US$1 billion (S$1.24 billion). -- PHOTO: AFP

 

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ballsathome

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• Sep 23, 2011

• #20

Thursday 22nd September 2011

Man United could postpone SGX listing

With the global markets faltering, Manchester United's American owners could choose to delay their initial public offering in Singapore.

Although the Barclays Premier League giants did receive approval from the Singapore Exchange Limited to list, and remain on course for a floatation, a combination of gloomy markets and an uncertain economic outlook could force the Glazers to postpone the IPO till 2012, instead of the fourth quarter of 2011 as initially planned, according to reports in the Wall Street Journal's website.

Sources revealed that the United owners are not in a rush to float the club, and want to achieve maximum bang for their floatation, saying: "When they feel there is a window they will move ahead. They are not a distressed seller and want a decent price for the asset".

Duncan Drasdo, chief executive of fans' group Manchester United Supporters Trust (MUST), admitted the delay could mean United are having problems finding cornerstone investors.

"It's not particularly surprising they might be struggling to get significant interest from investors, because they're going to look at the numbers, and it's an extremely ambitious ask at the valuations being punted around," Drasdo said to Reuters.

This would mark yet another delay in the Glazer's plans, having had to switch to Singapore from Hong Kong in June to take advantage of the city-state's dual-share listing structure.

This has raised concerns about corporate governance at the club, as the two-tier share structure enables the Glazers to effectively retain control of the club despite selling a sizable interest.