Man United IPO 'delayed' | Bangkok Post: breakingnews

Premier League soccer champions Manchester United have put immediate plans for a US$1 billion flotation in Singapore on hold due to market volatility.

A source close to the deal said the club still plans a listing before the end of the year."They are not ready to go because of the way the markets are looking," said the source. "They don't have the intention to go immediately and they're biding their time.""Quarter four is still possible," the source said. United had originally targeted a mid-October float.The club received permission from the Singapore Exchange earlier in September for the IPO, which will have a two-tier structure including non-voting preference shares.Equity fund-raising worldwide has pretty much ground to a halt as stock markets, which...