Singapore loses Manchester United IPO
There is a silver lining though, says IG Markets Singapore.
The analyst noted that Singapore was in the line-up for a $1 billion IPO this year but this was put on hold due to volatile markets. The soccer club has now announced it will list on the New York Stock Exchange in a $100 million float.
Meanwhile a Reuters report said the club first eyed a Hong Kong IPO before planning the now aborted $1 billion Singapore listing.
IG Markets Singapore commented, “On the plus side, at least Manchester United didn’t pick Hong Kong over Singapore.”
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