Investment - Articles - BlackRock snaps up 8% stake in Manchester United


 BlackRock, the world's largest asset manager, has revealed it has taken an 8% stake in football club Manchester United.

 The holding of 3.3m shares was revealed in a filing with the US Securities and Exchange Commission on Wednesday.
 The football club went public on the New York Stock Exchange in August, and its shares have taken off over the past three months, rocketing 35% to stand at its current level of $16.8.

 That move may have confounded the short sellers who piled into the stock shortly after its IPO: research from Data Explorers conducted last August found that over 8% of the company's stock was out on loan.

 The club's shares subsequently struggled to make gains in Q3 2012, but now stand 20% above the IPO price of $14 a share.

 But the club did reportedly find one influential backer in the form of legendary investor George Soros, who was said to have built an 8% stake of his own last summer.

 The team is owned by an American family, the Glazers, that took over the club in 2005 and maintains control of the holding through a dual share structure.

 This means the family holds Class B shares in the club, which carry ten times the voting power of ordinary, publicly traded stocks.

Back to Index


Similar News to this Story

Aviva complete buyin for Colthorp Board Mill Pension
The Colthrop Board Mill Pension Scheme has completed a £23m buy-in with Aviva, securing the benefits of 69 deferred members and 152 pensioners. First
A rate cut on the cards and what it means for your money
The Bank of England is expected to cut interest rates next week from 4.75% to 4.5%. The market is pricing in an 84% chance of a cut next week, and the
Call for far reaching approach to modernising redress system
PIMFA has called on the Financial Conduct Authority (FCA) to be ambitious in its proposals to modernise the redress system and look beyond the iterati

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.