You Can Now Buy A Piece Of Manchester United

Manchester United

UPDATE:

Manchester United has opened for trading on the New York Stock Exchange at $14.05, marginally above its pricing last night.

The British based soccer team had priced its initial public offering at $14 a share, substantially below expectations originally set by lead underwriter Jefferies.

The company is listed under the ticker MANU.

Manchester United has raised $233 million from the offering, lower than top estimates to raise as much as $334 million. The IPO values Manchester at $2.3 billion.

The soccer club is deeply indebted, after a leveraged buyout saddled it with more than $1.4 billion in debt.

Credit Suisse, J.P. Morgan, BofA Merrill Lynch and Deutsche Bank Securities were also listed as book runners on the deal.

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