Man United drops Asia IPO for US

Manchester United, the world's best-supported football club, has ditched its plans for an Asian stock market flotation and is preparing to list in the United States, according to sources with knowledge of the deal. After first eyeing a Hong Kong IPO, the Premier League runners up, owned by the Glazer family, had planned a $1bn listing in Singapore in the second half of last year before putting plans on hold because of market turmoil. The US listing would come either on the New York Stock Exchange or its electronic rival Nasdaq. Credit Suisse, JPMorgan Chase & Co, and Morgan Stanley, which were part of the original syndicate, are still working with Manchester United, according to two sources with knowledge of the situation. Jefferies Group, which was not part of the original syndicate, is talking to the company about being added to the group, according to one of the sources.