Manchester United Ltd., an English professional soccer club owned by Malcom Glazer, announced terms for its IPO on Monday. The Manchester, United Kingdom-based company plans to raise $300 million by offering 16.7 million shares (50% insider) at a price range of $16.00 to $20.00. At the midpoint of the proposed range, Manchester United Ltd. would command a market value of $2.9 billion.
Manchester United Ltd., which was founded in 1878 and booked approximately $543 million in sales for the 12 months ended March 31, 2012, plans to list on the NYSE under the symbol MANU. Jefferies & Co., Credit Suisse, J.P. Morgan, BofA Merrill Lynch and Deutsche Bank Securities are the joint bookrunners on the deal.
