Manchester United plans $1bn Singapore IPO

Premier League club Manchester United is set to list on the Singapore stock exchange before the end of the year, according to reports.

The Wall Street Journal said the club, one of the world's richest despite debts totalling around £490m, is planning an initial public offering worth $1bn in the fourth quarter of 2011.

The report said Manchester United had initially planned to list in Hong Kong but "changed its mind" in favour of a Singapore listing. Credit Suisse is to be global co-ordinator and bookrunner on the deal.

Manchester United traded on the London Stock Exchange between 1991 and 2005, before being delisted as part of a £790m takeover by current owner Malcolm Glazer.

The club has an estimated 300 million fans around the world, around 190 million of which are located in Asia.

Companies such as Prada, Glencore and L'Occitane are among the big global names to have recently opted for an Asian listing, though Hong Kong is usually the preferred venue.

Thomson Reuters estimates Singapore recorded $7.1bn in IPO proceeds in the first half of 2011, compared with $13.4bn for Hong Kong.