Manchester United sports club drop Asia public offering in favor of US
June 15, 2012, 5:59 pm TWN
SINGAPORE/HONG KONG -- Manchester United, the world's best-supported soccer club, has ditched its plans for an Asian stock market flotation and is preparing to list in the United States, according to sources with knowledge of the deal. After first eyeing a Hong Kong IPO, the former English soccer champions had planned a US$1 billion listing in Singapore in the second half of last year before putting plans on hold because of market turmoil. United, which has been English league champions a record 19 times and features players such as England's Wayne Rooney, declined to comment. The U.S. listing would come either on the New York Stock Exchange or its electronic rival Nasdaq, which is under scrutiny after its systems bungled the debut of social media giant Facebook Inc last month, causing customer losses estimated of at least US$100 million.