Manchester United shares debut in New York

Shares in Manchester United have begun trading on the New York Stock Exchange (NYSE).

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

On Thursday, Manchester United was forced to cut the value of the shares to $14 each.

The shares on sale represent 10% of the club, which it hopes will raise $233m (£150m) to pay off some debt - well below the $333m initially hoped for.

Some analysts said they thought the deal was overvalued.

The NYSE celebrated the share launch by laying astroturf between the bell and the club's market-maker.

The club's executives, including some of the Glazer family, rang the opening bell on the exchange.

Some traders sported the club's shirt, and outside the exchange workers put on a goal shooting event.

The club had tried unsuccessfully to list the shares in Singapore, but a reported lack of interest led it to pull the sale.

It then tried to list in London, before confirming that it would list in New York.

BBC