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.
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.
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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.
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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.