Vincent Tan mulls Singapore IPO for Cardiff City football club
Friday 06 December 2013
Billionaire Vincent Tan looks set to list Cardiff City Football Club in Singapore next year after plans to float in his own country were shut down by regulators.
The Premier League club is likely to join Singapore’s small-cap Catalist exchange, according to reports, after concerns were raised about Cardiff’s cash flow.
The size of the initial public offering has not yet been decided but if Cardiff goes to market it will follow in the footsteps of Manchester United, whose own listing, on the New York Stock Exchange, raised $233 million (£142 million).
Cardiff is being advised by the Malaysian banking group CIMB. Tan, who took control of the club in 2010, hopes to promote Cardiff’s interests in the fast-growing region and has already changed its home strip to red and incorporated a red dragon on the club’s badge for marketing purposes.
Earlier this year he appointed Mehmet Dalman as the club’s chairman.
Dalman was, until April, chairman of the controversial mining group ENRC.
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