Manchester United plans $1.2b IPO in Singapore

Manchester United plans a US$1 billion (S$1.2 billion) initial public offering (IPO) in Singapore by the end of the year, depending on market conditions.

Credit Suisse Group AG is working on the transaction. No final decision has been made. Manchester United declined to comment.

Speculation had been rife in recent months about Manchester United listing in Hong Kong, which has become the venue of choice for global brands such as fashion house Prada SpA and cosmetics maker L'Occitane International .

With nearly two-thirds of its 300 million fans in Asia, the region has become an important growth area for the loss-making club.

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