Manchester United lowers stock float value
August 10 , 2012
Manchester United has been forced to cut the value of its upcoming share flotation in New York.
The soccer club said it would sell shares at $14 each, below the $16-$20 range that was previously announced.
The lowering of the share price indicates it could not find buyers at the higher prices.
The club was recently called the most valuable club in sport, worth $2.23 billion, by Forbes magazine.