Manchester United files application for listing on Singapore Exchange

ENGLISH Premier League soccer champions Manchester United have filed a preliminary application with the Singapore Exchange for a planned listing, a source with direct knowledge of the deal said yesterday.

The club, which sources have said hopes to raise as much as $1 billion (€692m) from an initial public offering by the end of the year, has appointed Credit Suisse as the global coordinator of the deal, the source said.

A second source said the owning Glazer family plan to use some of the funds raised from the offering to reduce the club’s huge debt pile, a burden which has made the Americans deeply unpopular with many fans.