Manchester United below IPO price after hours
LOS ANGELES (MarketWatch) -- Shares of
Late-traded shares of Manchester United (MANU) lost 0.6% at $13.91 in moderate volume. Shares of the British soccer club during the day session traded at and above $14, where they priced late Thursday, then closed at that level. The IPO priced below the originally planned range of $16 to $20.
The IPO plan angered many of the club's fans after it was filed by Man. United's American owners, the Glazer family, in an effort to raise up to $300 million by selling 10% of the club.
Also ahead of the late session, U.S. stocks turned higher, locking in a fifth week of gains for the Dow Jones Industrial Average (DJIA) and the S&P 500 Index (SPX) . The Nasdaq Composite Index (COMP) logged its fourth weekly increase. More about U.S. stocks in Market Snapshot.