Jefferies set to lead Man Utd US IPO; MS no longer involved
SINGAPORE, June 14 (IFR) - US investment bank Jefferies Group Inc is set to be appointed as the so-called lead-left on the $1 billion US initial public offering of Manchester United, while Morgan Stanley has been dropped from the transaction entirely, according to several sources with knowledge of the deal.
The deal had originally been slated for a Singapore listing, but the intended listing venue has now been switched to New York.
Credit Suisse and JP Morgan, which were on the original syndicate for the Singapore transaction, have retained their place on the offer.
The banks involved and representatives of Manchester United declined to comment.
Manchester United, the world's best-supported soccer club, had planned to list in Singapore in the second half of last year but put the plan on hold because of market turmoil.
United has been English league champion a record 19 times and features players such as England's Wayne Rooney.
The club's American proprietors, the Glazer family, are well known in the United States as owners of American football team the Tampa Bay Buccaneers, as well as First Allied Corp, which owns and leases shopping centers. For more, see [ID: nL5E8HDI22]