Manchester United's share value has soared in recent weeks thanks to improved on-field results and talk of a takeover.
United's stock market value has increased by £530million over the last month.
United's share price on the New York Stock Exchange is now valued at $14.30 (£12.46), up from $11.48 (£10.01) after the first week of August.
That represents an increase of around 25 per cent in just a month, which is equivalent to a rise in value of around £530m, taking United's market value to £2.36billion.
It also means United's share price is higher than its initial offering when it launched on the NYSE in August 2012, when it was valued at $14.00 (£12.20).
It is the first time in several months the share price has exceeded the initial offering, and is believed to be influenced by reports of a possible takeover.