Manchester United’s initial public offering stock listing on the New York Stock Exchange can be monitored here.
The Guardian has the scoop:
Manchester United has slashed the price of its shares in advance of its debut on the New York Stock Exchange on Friday.
The club had been set to sell its shares for between $16-$20 (£10-£13) a share but cut the price to $14 late on Thursday following negative comments from Wall Street analysts and Facebook’s disappointing stock market debut in May.
Even after the cut, United will be valued at $2.3bn (£1.5bn), making it the most valuable football club in the world. Real Madrid, its closest rival in financial terms, is valued at $1.88bn, according to an annual ranking by Forbes magazine.
Man United chief executive David Gill was on hand to ring the bell to start the day’s trading, and was interviewed shortly after on the floor, where he has this to say:
— marcwebber (@marcwebber) August 10, 2012
Apparently Gill is set to personally “drive” talks forward with Arsenal for the services of the Dutch striker.
The launch itself is also rife with some frankly uncomfortable imagery, like that of floor traders wearing Manchester United shirts with “NYSE” and the stock code written on them (retweeted by Andi Thomas, who pointed this out):
— darren rovell (@darrenrovell) August 10, 2012
I would urge you as Manchester United fans not to invest in this stock for reasons outlined here. It’s a raw deal.