LONDON: Manchester United is planning to raise up to two-thirds of a planned US$1bil initial public offering in Singapore through non-voting preferences shares, the Financial Times reported yesterday.
The newspaper reported that the move would keep as much as 88% of voting rights in the hands of the Glazer family, its American owners.
Plans being drawn up for the IPO would see the English soccer's Premier League champions selling about a third of the equity in the club, which is valued at about US$3bil. - Reuters
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