Manchester United is planning to raise $1 billion by selling shares on the Singapore stock market, according to reports.

The Wall Street Journal has reported that the Barclays Premier League champion will carry out an initial public offering (IPO) in the Asian state later this year.

It has been reported that the club was planning to sell shares in Hong Kong but has now switched its attention to Singapore.

United was listed on the London Stock Exchange until being taken over by the Glazer family in a deal worth close to £800million in 2005.

United has not commented on the reports.