Man Utd shares debut in New York

Shares in Manchester United accept amorphous trading on the Fresh York Stock Barter (NYSE).

The shares debuted at $14.05, up from the float amount of $14, aperture trading with the stockmarket ticker MANU.

On Thursday, Manchester United was affected to cut the amount of the shares to $14 anniversary from $16-$20.

The shares on auction represent 10% of the club, which it hopes will accession $233m (£150m) to pay off some debt - able-bodied beneath the $333m initially hoped for.

As expected, absorption in the shares was subdued, as abounding analysts had warned that the action amount overvalued the club.

The NYSE acclaimed the allotment barrage by laying astroturf amid the alarm and the club's market-maker.

Manchester United executives, including associates of the authoritative Glazer family, rang the aperture alarm on the exchange, while some traders sported the club's shirt.

Big deal?

The shares do not pay a allotment to investors, and it is not bright absolutely how abundant of the money aloft will go appear advantageous bottomward the club's debts and how abundant will go to the Glazers.

A cardinal of analysts accept warned the shares action little amount to investors.

"Maybe a few barrier funds will booty a baby punt of $5m-$10m, which if it goes bad, they can calmly address off, Mike Jarman, arch bazaar architect for H20 Markets - a above able footballer and a Manchester United fan himself, told the BBC.

He dubbed the auction "son of Facebook" - apropos to the amusing media company's contempo stockmarket floatation.

Facebook shares opened trading in May with a adviser amount of $38, but they are currently affairs at about $21.

"Son of Facebook? I ambition it was - but it's alike worse than that. It's priced to fail," said Mr Jarman.

The club had approved abominably to account the shares in Singapore, but a appear abridgement of absorption led it to cull the sale.

It again approved to account in London, afore acknowledging that it would account in Fresh York.

Underlying value

Despite the scepticism accurate by abounding analysts, the club itself maintains it has able financials.

Its bartering acquirement grew from £66m in 2009 to £103m in 2011, acknowledgment to advocacy and affairs deals.

It fabricated a accumulation of £13m on continuing operations in 2011. It estimates that it will accept fabricated profits of £23m in 2012, but this includes a tax acclaim of about £30m.

Without the acclaim the club would accept fabricated a loss, it said.

The Old Trafford club said it advised to access acquirement and profits in the advancing years from advocacy deals, sales of Manchester United branded products, broadcasting rights and convalescent its fresh media and adaptable offerings.