Manchester United to sell shares at $16 in New York sale
July 31 , 2012
Manchester United has said it plans to raise some $330 million in a listing on the New York Stock Exchange.
According to documents filed with the Securities and Exchange Commission, the soccer club said it will sell 16.7 million shares priced at between $16 and $20 each.
Since 2005, the club has been controlled by billionaire U.S. sports investors the Glazer family, who also own the Tampa Bay Buccaneers football team.
United said it plans to use the proceeds to repay debt.
The club currently has debt worth $686.5 million and nearly $110 million in cash.