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Manchester United Files For NYSE IPO

  • British football team, Manchester United is filing for IPO in the New York Stock Exchange in an attempt to raise finances through a share sale. The team was listed on the London Stock Exchange between 1991 and 2005 and was bought out by the Glazer family, American investors for $1.47 billion, in 2005. The IPO is expected to raise $100 million for the club. The Glazers are expected to retain Class B shares and wield 10 times the voting rights of the public issue. On Tuesday, the team filed for registering with the Securities and Exchange Commission.