Manchester United’s owners, the Glazer Family, have been awarded the right to float a minority of the club’s shares on the Singapore Stock Exchange, but may refrain from exercising this until they detect an improvement in the current unpredictable stock market conditions, the Guardian
Whilst the exact timing of when the Glazers will make the flotation official is, as indicated, unclear, their bankers are thought to be putting in the necessary groundwork so as to formulate the initial public offering (IPO), which potential investors will eventually be made to buy those shares available in the club.
Similar to its launch date, the composition of this IPO has yet to be formally revealed, although it is reasonably thought that the Glazers desire to sell 35% of United’s shares for in the region of £600m, but would be required to retain 88% of the voting rights in the club to do so.
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