Manchester United plans Singapore share float

Updated: 16 August 2011 21:11 IST

Two sources familiar with the matter say Manchester United's American owners are planning to dilute their stake in the Premier League club with a stock market flotation in Singapore.

Manchester United plans Singapore share float
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London:

Two sources familiar with the matter say Manchester United's American owners are planning to dilute their stake in the Premier League club with a stock market flotation in Singapore.

The people spoke to The Associated Press on condition of anonymity because they are not authorized to discuss the partial flotation publicly.

They say the Glazer family, which has owned the club since 2005, chose Singapore for the Initial Public Offering because Asia is central to United's growth away from the football pitch.

While the Glazers plan to remain in control of United, a flotation would reduce the club's debt, which exceeds 500 million pounds ($817 million).

United Chief executive David Gill refused to comment on the IPO reports.

Topics : Football Alex Ferguson Wayne Rooney Chelsea Arsenal Manchester United
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