Singapore: English Premier League soccer champions Manchester United have filed a preliminary application with the Singapore Exchange for a planned listing, a source with direct knowledge of the deal said on Thursday.
The club, which sources told Reuters earlier this week is looking to raise as much as $1 billion from the offering, has appointed Credit Suisse as the global coordinator of the deal, the source said.
Morgan Stanley and UBS are also in the running to become bookrunners, sources have said. British media reported the application gives raising funds to pay down debt as the primary reason for the listing.
United's 2010 full-year results showed gross debt attached to the club of 522 million pounds ($865 million), a debt pile which has helped make the owning Glazer family deeply unpopular with many fans.
The Americans have been criticised by supporters who are uncomfortable with the club's debt, despite continued on-field success, inspiring slogans such as "Love United, Hate Glazer" brandished by some supporters.
A Singapore initial public offering (IPO) would be a second stock market incarnation for the club, which was listed in London before being taken over by the Glazers in 2005.
The Singapore Exchange and Manchester United were not available to comment.
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