Manchester United tries again. After exiting the $1 billion Singapore listing project late last year, the English football club is now considering an IPO in the United Statespreferred venue due to market volatility.
Manchester United had obtained approval from the Singapore Stock Exchange in September last year to list on the Asian city-state. The club had preferred Singapore to Hong Kong in order to take advantage of a shareholding structure with shares with or without voting rights.
This structure, banned in Hong Kong, would have allowed the owners of Manchester United, the US Glazer family, to effectively maintain control of the team. The US family, led by Malcolm Glazer, also owns the Tampa Bay Buccaneers, a franchise in the National Football Leagues.
