steersyutd:

bevninja:

steersyutd:

steersyutd:

bevninja:

steersyutd:

bevninja:

Think that NYSE is being used because realistically now it's the last port in the storm they can use, if they want to go down the two tier route, which obviously they do in order to keep overall control.

There is nowhere else left really.

There are plenty of places fella, The reason behind the NYSE is a) its closer for them to monitor b) as Lee has already stated the NYSE is showing the most positive signs with regards to IPO success at the moment C) the type of share issue the Glazers want is more common place on the NYSE.

There are not plenty of places, fella.

Ok, I will bite, Why then?

You are aware there are 18 major stock exchanges around the world and hundreds of less established ones.

if you want to put through a high profile two tier structure IPO, which of the 18 would you be looking at??? and I'm sure some of the hundreds of less established ones you would definitely look at using???

eg; Hong Kong, looked at not used because they don't deal with the 2 tier structure.

Singapore looked at, again not used because initially they said they would deal with the 2 tier structure but then changed their minds, it was this not the global economic excuse that was used, for not going ahead there.From then till now the economic climate has not moved to be favourable even now.

NASDAQ not used as between their equipment and MS they messed up (allegedly!) the Fbook IPO.

London not looked at because of the perception of the Glazers in the UK would not make it attractive.

So not many realistic places left?????

Its been a long day, I will come back later to answer in detail after a cold beer has cooled me down.

Enjoy the beer ..... I'll save you the trouble, there really isn't anywhere else that makes any sense, it's not going to be Shanghai, Mumbai, Tokyo, Frankfurt, Toronto, or any of the others the only place to go now is the NYSE.

Unless it's shelved to go again, and given the registration and the fees that would be unlikely.

bevninja:

steersyutd:

steersyutd:

bevninja:

steersyutd:

bevninja:

Think that NYSE is being used because realistically now it's the last port in the storm they can use, if they want to go down the two tier route, which obviously they do in order to keep overall control.

There is nowhere else left really.

There are plenty of places fella, The reason behind the NYSE is a) its closer for them to monitor b) as Lee has already stated the NYSE is showing the most positive signs with regards to IPO success at the moment C) the type of share issue the Glazers want is more common place on the NYSE.

There are not plenty of places, fella.

Ok, I will bite, Why then?

You are aware there are 18 major stock exchanges around the world and hundreds of less established ones.

if you want to put through a high profile two tier structure IPO, which of the 18 would you be looking at??? and I'm sure some of the hundreds of less established ones you would definitely look at using???

eg; Hong Kong, looked at not used because they don't deal with the 2 tier structure.

Singapore looked at, again not used because initially they said they would deal with the 2 tier structure but then changed their minds, it was this not the global economic excuse that was used, for not going ahead there.From then till now the economic climate has not moved to be favourable even now.

NASDAQ not used as between their equipment and MS they messed up (allegedly!) the Fbook IPO.

London not looked at because of the perception of the Glazers in the UK would not make it attractive.

So not many realistic places left?????

Its been a long day, I will come back later to answer in detail after a cold beer has cooled me down.

garp01us:

bevninja:

Think that NYSE is being used because realistically now it's the last port in the storm they can use, if they want to go down the two tier route, which obviously they do in order to keep overall control.

There is nowhere else left really.

i also heard on fox soccer channel last night that it was also the only way they could split the stock into separate classes.

It's one of only a few that would deal with a 2 tier structured IPO.

bevninja:

Think that NYSE is being used because realistically now it's the last port in the storm they can use, if they want to go down the two tier route, which obviously they do in order to keep overall control.

There is nowhere else left really.

i also heard on fox soccer channel last night that it was also the only way they could split the stock into separate classes.

steersyutd:

steersyutd:

bevninja:

steersyutd:

bevninja:

Think that NYSE is being used because realistically now it's the last port in the storm they can use, if they want to go down the two tier route, which obviously they do in order to keep overall control.

There is nowhere else left really.

There are plenty of places fella, The reason behind the NYSE is a) its closer for them to monitor b) as Lee has already stated the NYSE is showing the most positive signs with regards to IPO success at the moment C) the type of share issue the Glazers want is more common place on the NYSE.

There are not plenty of places, fella.

Ok, I will bite, Why then?

You are aware there are 18 major stock exchanges around the world and hundreds of less established ones.

if you want to put through a high profile two tier structure IPO, which of the 18 would you be looking at??? and I'm sure some of the hundreds of less established ones you would definitely look at using???

eg; Hong Kong, looked at not used because they don't deal with the 2 tier structure.

Singapore looked at, again not used because initially they said they would deal with the 2 tier structure but then changed their minds, it was this not the global economic excuse that was used, for not going ahead there.From then till now the economic climate has not moved to be favourable even now.

NASDAQ not used as between their equipment and MS they messed up (allegedly!) the Fbook IPO.

London not looked at because of the perception of the Glazers in the UK would not make it attractive.

So not many realistic places left?????

steersyutd:

bevninja:

steersyutd:

bevninja:

Think that NYSE is being used because realistically now it's the last port in the storm they can use, if they want to go down the two tier route, which obviously they do in order to keep overall control.

There is nowhere else left really.

There are plenty of places fella, The reason behind the NYSE is a) its closer for them to monitor b) as Lee has already stated the NYSE is showing the most positive signs with regards to IPO success at the moment C) the type of share issue the Glazers want is more common place on the NYSE.

There are not plenty of places, fella.

Ok, I will bite, Why then?

You are aware there are 18 major stock exchanges around the world and hundreds of less established ones.

bevninja:

steersyutd:

bevninja:

Think that NYSE is being used because realistically now it's the last port in the storm they can use, if they want to go down the two tier route, which obviously they do in order to keep overall control.

There is nowhere else left really.

There are plenty of places fella, The reason behind the NYSE is a) its closer for them to monitor b) as Lee has already stated the NYSE is showing the most positive signs with regards to IPO success at the moment C) the type of share issue the Glazers want is more common place on the NYSE.

There are not plenty of places, fella.

Ok, I will bite, Why then?

steersyutd:

bevninja:

Think that NYSE is being used because realistically now it's the last port in the storm they can use, if they want to go down the two tier route, which obviously they do in order to keep overall control.

There is nowhere else left really.

There are plenty of places fella, The reason behind the NYSE is a) its closer for them to monitor b) as Lee has already stated the NYSE is showing the most positive signs with regards to IPO success at the moment C) the type of share issue the Glazers want is more common place on the NYSE.

There are not plenty of places, fella.

manu wr10:

Can only be a good thing right? I'm no stock broker but raising money and paying off debts sounds like the right way to go. A question to someone informed: How long do you know/think/believe it will take to pay off the debt? This 64 mil pounds that is being quoted is fairly nominal is it not?

This is to yourself and Garp, it may seem like a drop in the ocean, well it's around 15% of the outstanding official debt BUT it takes us closer to the positive tipping point.

What I mean by that is that, assuming it works out, the debt is reduced by fair chunk, therefore the cost of that debt is reduced and as a result the club has more money left in the kitty over the following year to reduce the debt even further. The tipping point being that you are now getting at the debt amount rather than spending the majority just servicing the interest on that debt, the process then positively spirals/speeds up dramatically.

The clever part (if it works) is that the Glazers have already stated that dividends on the shares will not be paid in the immediate future, therefore that would mean that £64million worth of debt (which is in the form of the bonds) will be paid off meaning we are not paying the 8% bond interest/dividend on that £64million but neither do we for now have to pay dividends on the shares that paid the bonds down. So as explained above that's £64million's worth of 8% interest/dividend you are not paying out next year and that money can be put towards paying off more debt.

As for the IPO being a "toe in the water" test, yes it is partly that but as for it being to establish a value of the club overall yes it will BUT I think there is a subtle difference to be observed here.

I think it is a small enough IPO for the Glazers to not just 'find out' a value but maybe more 'create' a value.

Now I maybe wrong of course but I think there will be enough interest in this smaller amount of shares for them to acheive a high enough price to 'create' the £2billion+ company value the Glazers are hoping/pushing for.

If they can acheive this valuation then it puts them in a very strong position as a brand/company when it comes to generating more revenue from sponsors/partners etc.

They may release more shares after this but they will not release so many as to damage to companies overall valuation, they will just continue to reduce the debt gradually over time but if all goes to plan and revenues continue to increase as they are doing then even without further shares being sold we could see the debts reduced to near negligible within 4 to 5 years, which is when the bonds mature (2017).

manu wr10:

Can only be a good thing right? I'm no stock broker but raising money and paying off debts sounds like the right way to go. A question to someone informed: How long do you know/think/believe it will take to pay off the debt? This 64 mil pounds that is being quoted is fairly nominal is it not?

The 100 million is like a default sum for this type of thing. I expect the figure will be higher but at this moment its a waiting game. We should now more in the next month and half two months.

bevninja:

Think that NYSE is being used because realistically now it's the last port in the storm they can use, if they want to go down the two tier route, which obviously they do in order to keep overall control.

There is nowhere else left really.

There are plenty of places fella, The reason behind the NYSE is a) its closer for them to monitor b) as Lee has already stated the NYSE is showing the most positive signs with regards to IPO success at the moment C) the type of share issue the Glazers want is more common place on the NYSE.

Think that NYSE is being used because realistically now it's the last port in the storm they can use, if they want to go down the two tier route, which obviously they do in order to keep overall control.

There is nowhere else left really.

United road75:

LEE TREVIS:

steersyutd:

United road75:

http://andersred.blogspot.co.uk/2012/07/manchester-united-ipo-some-initial.html >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> Interesting read

Wow Andy Green actually saying this is a good thing. I think I just saw pigs fly past my office window. I love the way he still have sneaky underhand digs though.

The other reason the NYSE is being used is because it is the largest in the world.

I also believe strongly that Andy is using the wording of the proposed listing to highlight his cause, think about it this way. If We was to have said we want all the money to pocket ourselves or we will pay part of the debt and the rest will be invested in the club, as a investor you then know there is next to no chance of ever getting a dividend. If the debt is paid off then dividends are more likely to be paid to both the investor and The glazers.

Think you're bob on with the reasoning behind the declaration that the IPO will go towards paying down debts Steersy mate and yeah HILARIOUS isn't it, they don't want to believe us but as soon as Andy Green says it's good they're sold lol :D Baaaaaaaaaaaaa!!!! :P

Also the NYSE is the first market to start to show more favorable signs for IPO, there are several other companies also looking to launch IPO over the coming weeks there.

Oh glad you liked the cake analogy.. "I Luuuuuuuuuuuuurrrrrrv the cake!!!" lol :D

Who said anything about not believing you ? i'm not clued up on finances so obviously easily misled by what i read and who is Andy Green anyway?

No offence mate but I answered your concerns directly yesterday and you didn't reply, you have been in the transfer section early today still spreading the doom and gloom agenda to say Kagawa will be our only signing citing the wording in the IPO as your reasoning. This is why I say you didn't believe us, is there another conclusion that I could have come to based on that?

Andy Green - Andersred blog.

Thing is mate, if you stick around on these threads after you have posted a rant we are all happy to debate it with you but it does help to cool the jets and actually debate the facts. Most of the usual suspects here will be using genuine published figures etc (from financial reports not media BS) and if we are incorrect then we are happy to stand corrected we won't argue the toss without re-checking our facts.

basically like what has been pointed out the initial offering is to assess both interest and true value, if all goes well then they could effectively issue enough shares to wipe pout the entire debt and still maintain close to 70% of the shares. Paying dividends on stocks is easier and cheaper in general than paying off high interest loans, mainly because socks values fluctuate and can be bought back, loan payments have a tendency to go up and your also paying off mostly the interest.

manu wr10:

Can only be a good thing right? I'm no stock broker but raising money and paying off debts sounds like the right way to go. A question to someone informed: How long do you know/think/believe it will take to pay off the debt? This 64 mil pounds that is being quoted is fairly nominal is it not?

As its been stated on here the 64 million will be a dip in the water to see how well the shares sell then they will look to release more shares i would think they will do it a little at a time to keep share prices up and demand high