United thread 2012/13 (inc merged IPO thread)

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Re: "ooooh Man Utd, the only football team to come from..

We should call them KMan U from now on :P


charliebigspuds said:
the Cayman Islands"

[/http://www.businessinsider.com/ma...ls, this feckin phone does my head in[/quote]
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JM Mcr said:
If the share price suddenly spikes in the future (for instance on the back of a lucrative new commercial or tv deal or sale of stadium naming rights) can the Glazers just offload more stock on the quiet or do they have to make public announcement before doing so? I understand they apparently included something in the wording of this offer to allow them to sell a further 2.5m of their personal shareholding, should they so wish, but what about after that?
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I downloaded the prospectus and gave up around p40 of 288. Their listed as an emerging growth company so the disclosure requirements are limited.

Regarding issue of shares, I didn't come across anything which would allow them to raise more capital. Normally a Company would have to make an additional placing which would have the effect of diluting existing shareholders holdings so I don't think they can just issue more shares at a drop of a hat. It's quite common for companies to buy back their own shareholding in the market, but if they wanted to raise more Capital they would normally have to arrange a new placing with the Exchange and Investment Banks which would incur additional costs.

They have also set aside additional shares for employee incentives
 
Marvin said:
Prestwich_Blue said:
Marvin said:
Don't understand the comments about underwriters propping up the price.

Did the underwriters end up buying the stock? I haven't heard that.

And even if they did, they can only hold it up temporarily and that will just increase their own exposure. I think a lot of rubbish is being written
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They did end up supporting the stock. It's in their contract. According to people in the know, there were a lot of attempts to short the stock (in expectation of a significant fall) and Jefferies had to keep buying to resist that. The story is that the selling pressure has abated for the moment but that the underwriters are left with a lot of stock.

As you say, that can only work for a short period and they'll have to slowly let that stock dribble out onto the market over time. It will be a couple of weeks or so before we see how the price really is and the 2012 results will probably impact it negatively.
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Trouble is so many people spin the story. If the underwriters were forced to buy stock then that will exert downward pressure on the price as there will be an excess of supply waiting to come on to the market.
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That's not the way it works though. In a liquid market, a large amount of shares on sale would tend to drive the price down until a buyer was found prepared ot pay that price. But if someone is prepared to buy those shares at a set price then this won't happen and that's what the underwriters have done. They contracted to support the price at the $14 level for a set time.
 
Does anyone know how long the underwriters can support the MANU share price. Perceived wisdom is that they are shoring up the stock at $14, but the reserve pot allocated for such situations will be finite. The same thing happened with Facebook and the underwriters support fell away after a couple of days. If that is mirrored with United we should see a collapse today?

http://www.bloomberg.com/news/2012-...said-to-support-stock-at-near-38-a-share.html

http://online.wsj.com/article/SB10001424052702303448404577411903118364314.html
 
bacuzzi said:
Does anyone know how long the underwriters can support the MANU share price. Perceived wisdom is that they are shoring up the stock at $14, but the reserve pot allocated for such situations will be finite. The same thing happened with Facebook and the underwriters support fell away after a couple of days. If that is mirrored with United we should see a collapse today?

http://www.bloomberg.com/news/2012-...said-to-support-stock-at-near-38-a-share.html

http://online.wsj.com/article/SB10001424052702303448404577411903118364314.html
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I wonder if bubble n squeak on here are still laughing at me the way they did three weeks ago? Plain English can be so damn annoying, can't it?
 
is this Angelo Henriquez story true I wonder?

<a class="postlink" href="http://sportsvibe.co.uk/news/football/manchester-city-move-for-chilean-prodigy-despite-united-agreement-19153/" onclick="window.open(this.href);return false;">http://sportsvibe.co.uk/news/football/m ... ent-19153/</a>?
 
Re: It's Going up, It's Going Down, It's erm.... Flatlining

There is a light said:
At the risk of sounding thick by talking about something I know nothing about... do we really want United to be worth only £600 million?

Is that not more affordable to interested parties should the day ever come when Uncle Malc decides to cash in? If it is worth only that much and and not the original valuation, will United drop in value for the Glazer family and will they be more likely to sell at a slightly inflated price as opposed to the ridiculous value he had on it before?

They are never going to sell at a loss. they will hang on in there until they can at least make a profit otherwise it all would have been pointless for them
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