Photo: nasmac / Flickr, CC.
Morgan Stanley has dropped from the IPO of England’s Manchester United football team, Reuters reported.The coveted “lead-left” spot on the IPO has gone to Jefferies, who will oversee the $1 billion public offering of one of the world’s most popular football teams. Although the team was originally planning on listing in Singapore, it will now be listed on a U.S. exchange, and possibly under the ticker ManU.
It is unclear why Morgan Stanley was dropped from the IPO. Credit Suisse and JP Morgan, who were also attached to the IPO, are still attached to the offering, according to Reuters.