Manchester United listing on Singapore exchange expected soon
The Singapore stock exchange could approve the listing of debt-plagued English Premier League champions Manchester United as early as next Thursday, a media report said Saturday.
The club, owned by the US-based Glazer family, hopes to raise 1 billion dollars by tapping its huge fan base in Asia, estimated at more than 190 million supporters, to ease its financial burdens, DPA reported.
Lawyers involved in the listing were preparing the paperwork to get the nod from Singapore Exchange Ltd next week, the Straits Times newspaper quoted sources as saying.
Earlier reports speculated that the club planned to list in Singapore with a two-tier share structure that would minimize the influence of new shareholders and ensure that the Glazer family, which is unpopular with many fans, retained control.
The Singapore exchange said it does not comment "on any individual company or entity."