Man Utd stock market price soars £530MILLION in one month as shares rise above launch value from ten years ago


MANCHESTER UNITED’S stock market value has increased by an astonishing £530million over the last month.

Several factors have contributed to the rise including speculation surrounding a possible takeover of the club.

Manchester United's stock price has risen sharply in the past month

2

Manchester United’s stock price has risen sharply in the past monthCredit: Getty
Jim Ratcliffe's interest in buying Manchester United is believed to have affected the club's share price

2

Jim Ratcliffe’s interest in buying Manchester United is believed to have affected the club’s share priceCredit: Getty

United’s share price on the New York Stock Exchange is now valued at $14.30 (£12.46), up from $11.48 (£10.01) after the first week of August.

That represents an increase of around 25 per cent in just a month, which is equivalent to a rise in value of around £530m, taking United’s market value to £2.36billion.

It also means United’s share price is higher than its intial offering when it launched on the NYSE in August 2012, when it was valued at $14.00 (£12.20).

It is the first time in several months the share price has exceeded the initial offering, and is believed to be influenced by reports of a possible takeover.

Get 25 FREE SPINS with NO DEPOSIT required when you join Sun Vegas
Ian Wright praises Rashford, Carragher's BRUTAL Bailly verdict

In August talk of British billionaire Jim Ratcliffe plotting a takeover bid increased the share price by 15 per cent.

That followed a 12 per cent increase in the share price after former director Michael Knighton announced plans for a “hostile” takeover of the club.

It is a stark turnaround for the club from when shares plummeted to a record low of $11.07 (£9.60) on June 13 – a £1.3bn drop.

That fall came at the beginning of the transfer window – before the club spent big on six summer additions.

CHAMPIONS LEAGUE BETTING OFFER – GET £50 BACK AS CASH

Casemiro, Antony and Lisandro Martinez arrived for a combined £212million – a sign the Glazers are prepared to put their hand in the pocket.

By contrast, in October last year the Glazers put 9.5m United shares up for sale, which equates to a £137m stake in the Old Trafford club.

Ratcliffe is also thought to be prepared to invest heavily in the club should he take over – including refurbishing Old Trafford.





Source link

You May Also Like