31 Aug '11, 9am

Manchester United pick two-tier Singapore listing

Manchester United pick two-tier Singapore listing

Manchester United were ranked by business magazine Forbes earlier this year as the world's most valuable football club, worth US$1.86 billion. -- PHOTO: AFP SINGAPORE (AFP) - Manchester United chose Singapore over Hong Kong for an Asia float because of the city-state's more flexible conditions and proximity to their passionate Southeast Asian fans, a source said on Wednesday. The English football champions are opting for a dual-share structure, which will allow the club's owners - the US-based Glazer family - to stay in charge of key decisions, the source who is close to the planned listing told AFP. Hong Kong - the world's biggest initial public offering market last year - was the first choice for the Glazers but exchange regulations there do not allow a two-tier structure, the source said. 'The rationale is because sports clubs are quite different from most companies,' s...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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