United launch share sale on NYSE

Manchester United have launched their New York Stock Exchange listing, with shares expected to start between $US16 and $US20.

The launch occurred on Monday, and the record 19-time English champions say about 16.7 million shares will be offered.

United is looking to raise funds to help reduce debt from the Glazer family’s 2005 takeover, rated at STG423 million ($A640 million) as of March 31.

The Glazers will retain control of the club through its ownership of Class B shares, which will have 10 times the voting power of the stock sold to the public.

The club was listed on the London Stock Exchange from 1991 until the Glazers completed a leveraged buyout valued at $US1.47 billion in June 2005.

The Glazers also own the NFL’s Tampa Bay Buccaneers.

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