Phil Noble / Reuters
Manchester United's Wayne Rooney celebrates after a goal on March 11, 2012.
By Reuters
Manchester United Ltd, the world's most famous soccer club, filed with U.S. regulators to raise up to $100 million in an initial public offering of its Class A common stock.
Thomson Reuters publication IFR reported last month that the football club had dropped its plans for an Asian listing in favor of a U.S. listing.
After first eyeing a Hong Kong IPO, the former English soccer champions had planned a $1 billion listing in Singapore in the second half of last year before putting the plans on hold because of market turmoil.
Manchester United told the U.S. Securities and Exchange Commission in a preliminary prospectus on Tuesday that Jefferies, Credit Suisse, J.P. Morgan, BofA Merrill Lynch and Deutsche Bank Securities are underwriting the IPO.
United, which has been English league champions a record 19 times and features players such as England's Wayne Rooney, intends to list its Class A common shares on the New York Stock Exchange.
The club intends to use the net proceeds from this offering to repay debt.
The filing did not reveal how many shares it plans to sell or their expected price.
The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.?
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