Glazers eye MUFC float in Asia, study audacious plan for £1.7bn HK listing of club, more than double what they paid in '05. http://uk.reuters.com/article/2011/06/12/man-utd-float-idUKLDE75B04N20110612 What do we make of this. Reported in a few reputable places.
The Qatar Foundation deal was reported in a few reputable places as well. If the Glazers do float us, I reckon they'll probably only sell 20-25% to try and raise capital to pay off the bonds and maybe expand the stadium whilst the economy is depressed and the costs will be lower. That way they'll boost the value of the club even further ready for when they finally cash out. Gotta be honest, I'm not too keen on going back to being a plc. Doesn't seem to have helped Arsenal of Spurs succeed in recent years, and may leave us at risk of another leveraged buy out in future.
you're probably right with their intention. i noticed the qatar story has gone very quiet as of late.
Its reported it will be 49% at £1.7billion. They would remain the majority owners and be in no position to sell ever at that point. Also the HK stock exchange has a few advantages over the UK one it seems. A load of the worlds biggest manufactures have just gone public on there so somethings going on.
Cos Qatar now own PSG and sponsor Barca. Imagine if we met Barca in next year's CL final with Qatar Foundation on both our shirts. The tin hat brigade would be out in force if we won!
so valuing the club at 3.5 billion? bloody hell, not bad for a 700 m investment for which they only put up half!
No I think it would be 49% which would value the club at £1.7 billion as a whole. £3.5 billion would be silly money, even for United. Just goes to show what a poor job the plc was doing of maximising the commercial value and revenue of the club.
hmm united19red said it would be 1.7 b for 49 % so that would make it 3.5 b for full control but yeah it must be a mistake, the club isn't worth anywhere near 3.5 b and 1.7 is much more viable. galzers are ****ers. no doubt about it. but they have really pushed forward the clubs marketing strategy and commercial value.
Its what I have read on various forums anyway. When going public they can set a price ( £100 per share for example and 17million ) They can decide how much of the club the 17million shares equate to. Doesnt literally mean the clubs worth 3.5billion as in the future shares could be bought at £10 or £1000. thats my limited view point anyway. Its got the members of RAWK a little worried though.
Yeah agree on the PLC thing. Good move to raise some quick funds initially but in the position where United are now, I don't see the benefit. I just want to see us eventually become debt free and continue to beat the sugar daddies into 2nd and 3rd place!
they're going public in hong kong, so maybe the glazers are waiting to see how the market reacts before making their move. although i cant see the connection. one is a fashion brand and the other is a football club
I can't see a link either. Man utd are one of, if not the, most popular clubs in asia. Are prada the most popular clothing brand or something?
Just to add something here..... Reuters are a very reputable source and things make a lot of sense here. First of all the HK currency is linked to the USD so it makes an exist stratagy easier and more appealing to the Glazers down the line and United are most valuable in asia. Its highly likely the Glazers are considering such a move.
well i think they're looking at a figure about 15 billion when prada get put on the market so yeah they're pretty big in their own right judging by that figure.
There was a paper reporting that the qatari's where going for a £2billion bid again. Anything in this or is news just a bit slow?
They're just testing the market conditions. After the credit crunch and financial crisis no one's quite sure what sort of appetite investors will have for IPOs anymore. That's probably one of the reasons they're considering HK over London. Also, it's usual practice to keep large IPOs apart, to make sure major investors only have to consider one deal at once. Given how much larger Prada is, if United tried to list at the same time they might find many big investors ignored them cos they were too focused on going over Prada's numbers.
Just a thought but if they do float in hong kong couldnt the chinese government end up putting a bid in? They already own most of the usa"s debt.We"d be the nineteenth battalion of the red army!
