WASHINGTON: Britain's world-renowned soccer club Manchester United has slashed the price of its US share offer, cutting the proceeds from yesterday's listing to US$233mil from a hoped-for US$300mil.
The fabled team, mired in debt since 2005 after a heavily leveraged takeover by the Glazer family of Miami-based investors, cut the price for the 16.7 million shares on offer to US$14 late Thursday from the planned US$16-US$20 range.
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