Manchester United Said to Plan $1B Singapore IPO

Singapore’s finance sector continues to do extremely well. Singapore and Hong Kong continue to battle for Asian financial center leadership (even over Toyko and mainland China). This is a sign of Singapore’s rising financial status in a way that will catch the notice of many football fans around the globe. But it is only a visible manifestation of continued long term success in the financial community. Manchester United Said to Plan $1B Singapore IPO:

United says it’s the most-supported team in the world, with a club-sponsored survey revealing a global following of more than 330 million. The Glazers’ commercial operation, led by former J.P. Morgan banker Edward Woodward, has secured global sponsorship and licensing agreements that have led to annual revenue doubling to about 300 million pounds in six years.

The club has chosen Asia for its IPO because of its popularity in the region, one of the people said. The team has fan clubs in countries such as Thailand, Singapore and South Korea and a supporter base there of 190 million. It’s been searching for real estate in the region in an effort to boost its commercial operations.

Singapore boasts Asia’s highest concentration of millionaires and a United-themed restaurant.

Recently Singapore’s national team moved forward to the next round of World Cup qualifying with a tie of Malaysia (they beat Malaysia 4-1 earlier). Singapore’s team is ranking 131st in the world.

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