English Premier League soccer champions Manchester United are looking to raise $1 billion via a stock market flotation in Singapore by the end of this year, sources with direct knowledge of the situation said Tuesday. A Singapore initial public offering (IPO) would be a second stock market incarnation for the club, which was listed in London before being taken over by the Glazer family from the US in 2005. Banks Credit Suisse and UBS were close to winning the mandate for the IPO, a Reuters source with knowledge of the deal said. IFR, a Thomson Reuters publication, reported Morgan Stanley was also in the running. Despite their unpopularity among fans, the Glazers have consistently said they do not plan to sell the club, making it more likely they plan to issue new shares to raise funds which could be used to reduce the club's huge debt. This month, Britain's Sunday Mirror tabloid reported the Glazers were looking to sell as much as 25 percent in a share offering.
