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Man Utd selling more shares to raise £87M

Manchester United plan to sell more of their shares on the New York Stock Exchange.

The Daily Mail says United's American owners are set to raise around £87million by selling more of their shares in the club on the NYSE.

The Premier League club announced on Wednesday that the Glazer family is selling eight million shares with reduced voting rights, which equates to around five per cent of the business.

The Glazers, who maintain control of the club, previously sold 10 per cent of their holding via a stock listing in 2012.

The latest share sale was announced on a day when United shares closed at £11.42, with the Glazers cashing in at a time of renewed confidence at the club.

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