Morgan Stanley and JPMorgan to manage Manchester United IPO

19 August 2011

Morgan Stanley and JPMorgan Chase have been hired by Manchester United Football Club to help manage its Singapore stock market listing.

The action by the champions of the English Premier League is worth in the region of $1 billion and the club has already enlisted the expertise of Credit Suisse to act as global coordinator for the initial public offering (IPO), Reuters reports.

Pre-marketing for the deal is expected to get underway in mid-September, with Malaysia's CIMB, BOC International, Credit Agricole's CLSA and Singapore's DBS already identified among the other co-leads.

The Manchester United Supporters Trust (MUST) has claimed the IPO will be used for the benefit of the club's owners - the Glazer family headed by Malcolm Glazer - rather than for Manchester United itself.

MUST, which has almost 173,000 members, explained: "The share sale will be in the Glazers' interests - to pay down their debt - not the club's."

By Gary Cooper

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