Man-U moves IPO to US from Singapore

MUMBAI: Manchester United, the globally popular football club, is reportedly mulling moving its initial public offering to US from Singapore.

Two reasons are being cited for Man-U?s move. The first reason is to secure higher valuation by moving the IPO to US. Secondly, Malcolm Glazer, the American owner of the club, wants to use the IPO in US to retain control by using a dual-class share structure.

Man-U, which was planning a $1 billion IPO on Singapore Stock Exchange, had delayed the public float because of volatility in the stock markets.