LONDON - The owners of British football club Manchester United have reactivated an earlier plan to float its shares on the stock market in Singapore following improved market conditions, the Sunday Times reported.
The Florida-based Glazer family is looking to raise up to 600 million pounds by selling 25 to 30 per cent of the club via an initial public offering that would value it at up to 2 billion pounds ($3.2 billion), the newspaper said.
A spokesman for Manchester United said, "We don't comment on this sort of speculation".
Manchester United had eyed a $1 billion flotation in Singapore last year but shelved it due to market volatility, a source close to the IPO told Reuters in September.
In recent months, bankers have told Reuters they expect the deal to be revived this year.
In response, Manchester United Supporters Trust (MUST) chief executive, Duncan Drasdo, said: "Until we have more detail it is impossible to say with certainty what this will mean for Manchester United or its supporters."
"However if they are coming back with the same sort of inflated valuation and the same sort of proposal including non-voting shares then they should expect the same negative response from the market as last time," he added.
He said that if Manchester United instead decides to offer a substantial proportion of full voting shares at a reasonable valuation, and this is a pre-cursor to a full sale, then this could be enthusiastically welcomed by United supporters worldwide.
He urged every Manchester United supporter to register with MUST through their website.
He said the organisation will provide information to supporters as soon as it is available.
"It is quite possible that shares will not be available to ordinary supporters and that MUST will have to provide a mechanism for supporters to buy shares," he cautioned.
He expressed hope that at least a million Manchester United supporters will share in the ownership of the club.
Supporters can register for free through www.joinmust.org for information.