Manchester United shares expected to kick off on stock market

Written on:April 16, 2023
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The Glazer brain trust will revisit its earlier plan to make Manchester United shares available on Singapore stock market after improvement in market conditions.

The owners of the English Premier League club is reportedly eyeing a raise of up to £600 million by floating 25-30% of the club’s shares through an IPO, sources reveal. The Florida-based stakeholder previously contemplated on the move but did not go ahead with it.

With the Singapore market experiencing a massive boost of late, Formula One motor racing is reportedly considering a similar move this year, according to sources. Financial institutions have already predicted that the shares could soon be up for grabs.

However, Manchester United officials and supporters seem to be in discord with the proposed deal as a spokesman for the club has been quoted saying, “We don’t comment on this sort of speculation.”

“If they are coming back with the same sort of inflated valuation and the same sort of proposal, including non-voting shares, then they should expect the same negative response from the market as last time”, chief executive of the Manchester United Supporters’ Trust Duncan Drasdo said.

The Glazers’ move will receive a positive response from the 333 million Manchester United fans worldwide should they “offer a substantial proportion of full voting shares at a reasonable valuation”, Drasdo added, revealing the general mood amongst fans that the Glazers are pushing the club into a debt crisis.

It may be noted that the United owners initiated a £631 million floatation deal on the Singapore stock market last year but postponed it because of unstable market conditions.

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