Man United aims for $300M IPO

Hopefully Manchester United has better luck than Facebook with its IPO.

The English football club is targeting a $300 million offering in the hopes of paying down its £425 million net debt, says Financial Times.

Read: Should your clients buy a sports franchise?

If all goes according to plan, the club will launch its IPO next week, and price its shares in early August. Investment bank Jefferies will lead the offering, after Morgan Stanley declined, say Financial Times’ inside sources.

Other banks involved include: Credit Suisse, JPMorgan Chase, Bank of America and Deutsche Bank.

Read: Canadian IPO market sags

Read: Rules covering IPOs are changing

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.