NEW YORK: Manchester United Ltd said its shares priced at $14 (8.96 pounds) apiece in its U.S. initial public offering on Thursday, valuing the British football club at $2.3 billion (1.4 billion pounds), significantly below what its owners were hoping.
The team priced 16.7 million shares, as planned, and raised $233.2 million, about $100 million less than it had hoped. It will start trading on Friday on the New York Stock Exchange under the ticker "MANU" with the team's management expected to ring the opening bell at the stock market.
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