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World News

Man United files for IPO on NYSE

Manchester United announced plans July 3 to list on the New York Stock Exchange (NYSE), in an attempt to reduce debt and increase its ability to compete with wealthier European soccer clubs. The club has given no details of the stock price in New York or the number of shares that will be listed, but said that it does not intend to pay dividends to shareholders. "We intend to use all of our net proceeds from this offering to reduce our indebtedness," United's filing said. (AP)

Shukan ST: JULY 20, 2012

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World News Man United files for IPO on NYSE Manchester United announced plans July 3 to list on the New York Stock Exchange (NYSE), in an attempt to reduce debt and increase its ability to compete with wealthier European soccer clubs. The club has given no details of the stock price in New York or the number of shares that will be listed, but said that it does not intend to pay dividends to shareholders. "We intend to use all of our net proceeds from this offering to reduce our indebtedness," United's filing said. (AP) Shukan ST: JULY 20, 2012 (C) All rights reserved