Preparations for Manchester United’s $1 billion initial public offering in Singapore have been put on hold because of market volatility. However, it may yet go ahead in the fourth quarter. Talks are continuing with cornerstone investors such as Temasek, the Singapore state investment agency, despite claims by the Manchester United Supporters’ Trust that negotiations had broken down.
Preparations for Manchester United’s $1 billion initial public offering in Singapore have been put on hold because of market volatility. However, it may yet go ahead in the fourth quarter. Talks are continuing with cornerstone investors such as Temasek, the Singapore state investment agency, despite claims by the Manchester United Supporters’ Trust that negotiations had broken down.
The practical deadline for a listing in 2011 is probably the fourth week of November as Christmas is too close after that. It could thus take place in the first quarter of next year. The Glazer family is not ina hurry and is prepared to wait until next year to allow market volatility to ease.