You snooze, you lose: Now we know why Manchester United chose Singapore over Hong Kong

The soccer club was attracted to the promise of having its IPO approved in just four weeks.

A Bloomberg report said, “A pledge by Singapore Exchange to shrink the time lag between IPO application and approval to as little as four weeks -- from the usual two to three months -- was key to swaying United, said the bankers, who requested anonymity as they’re not authorized to discuss the deal.”

The report added that the push to lure United is a sign of increased competition between Singapore and Hong Kong for IPOs by global brands. James Koh of Kim Eng Securities was quoted as saying, “If all the major listings are going to Hong Kong, people might increasingly see the SGX as not as important. That’s why it’s good to get a big catch like that.”

Manchester United reportedly applied for a listing on 18 August.

View the report here.