Asian Supporters Disappointed After Man Utd Chooses US IPO

Asian supporters said Manchester United may have made a mistake by opting to take out a US share listing rather than tapping their fanatical fan base in the region for funds.

The club, which says it has 325 million Asian followers, had received in-principle approval for an initial public offering (IPO) in Singapore.

But the club filed papers to float shares in the United States.

“It is disappointing that the club is not raising funds in Asia,” said Sean Seah, a securities trader and Manchester United supporter in Kuala Lumpur.
He said may not make as much money from a US listing as they might have in Asia.

“If the Red Devils float their shares in Asia, supporters will swamp it. It is simple. Manchester United supporters are familiar with the team. Owning shares (in it) will be akin to having a souvenir or collectible,” Seah said.
”I do not think the stock will perform well in the US, where interest for football is less, unlike across Asia.”

Hong Konghad also been considered for the IPO but Singapore was the odds-on favourite to clinch the deal right up to the announcement.
The Singapore and Hong Kong stock exchanges had no immediate comment.

“I’m disappointed,” said Ken Lai, chairman of United for United, the team’s official supporters’ club in Singapore.

“It would have been nearer to us, it would have been a great honour to Singapore to actually host this,” he said.{jcomments on}