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Man United's Asian Fans Behind Singapore Move

Football News 24/7
Manchester United has an estimated 300 million plus fans worldwide, and two thirds of these are calculated to be in Asia.

It is no surpise therefore, that the Premier League's most successful club is reportedly planning to raise $1bn by selling shares on the Singapore stock market before the end of the year.

The Premier League club could be valued at up to £1.7 billion once it floats while current owners the Glazer family could raise around £600 million to cut the debts which they incurred when they took over Manchester United for £790 million in a highly leveraged deal in 2005.

The Glazers are expected to sell between 25% and 30% of the equity in the club.

The Singapore listing will mark a second stock-market incarnation for United, which was listed in London before it was taken over by the Glazers.

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

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

Investment banks Morgan Stanley and JPMorgan Chase have been brought in as extra advisers and the first moves could come as early as next month.

JB

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