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Malaysian billionaire plans IPO of British soccer team Cardiff City

By Religare
|

Billionaire from Malaysia Vincent Tan is exploring an IPO of British football team Cardiff City, according to the reports.

A listing would come after Manchester United Plc's debut on the New York Stock Exchange (NYSE) last year, which raised USD 233.2 million in the largest sports team IPO ever.

However, sceptics are already questioning the move since the club does not have Manchester United's track record or as wide a fan base.

 

According to the reports, Vincent Tan has already roped in an investment bank to lead tje process. Tan owns 36.1 per cent of the club and is the former chairman of conglomerate Berjaya Group.

Reports are suggesting that Tan plans to list the club on the Kuala Lumpur Stock Exchange.

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Story first published: Friday, May 24, 2013, 23:46 [IST]
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