Hopefully Manchester United has better luck than Facebook with its IPO.
The English football club is targeting a $300 million offering in the hopes of paying down its £425 million net debt, says Financial Times.
If all goes according to plan, the club will launch its IPO next week, and price its shares in early August. Investment bank Jefferies will lead the offering, after Morgan Stanley declined, say Financial Times’ inside sources.
Other banks involved include: Credit Suisse, JPMorgan Chase, Bank of America and Deutsche Bank.