|From: jollyjoekerr (Rep: 45)||Date: 08/10/2012 07:24|
|Forum: Manchester United Ltd - Msg #457||Thread #673439411 (Rec: 0) |
|Weak IPO pricing may create good scalp opportunity.|
Manchester United, one of the world's most well-known soccer clubs, raised $233 million by offering 17 million shares at $14, below the $16 to $20 range. At its $14 offer price, the England-based club commands a market capitalization of $2.3 billion, making it the world's most valuable sports franchise.
Manchester United will open for trading on the NYSE on Friday under the symbol MANU. Jefferies & Co., Credit Suisse, J.P. Morgan, BofA Merrill Lynch and Deutsche Bank Securities acted as bookrunners on the deal.
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