Bali United; First Football Club to Conduct IPO on the Indonesia Stock Exchange
On Monday 17 June 2019, Bali Bintang Sejahtera (Bali United) became the first football club in Indonesia – reportedly even the first football club in the Southeast Asian region – to conduct an initial public offering (IPO) on the stock market.
The IPO was highlighted by Indonesian media as it is unusual (not only in Indonesia but also abroad) for a sports club to make its trading debut on a stock exchange. Moreover, many Indonesians, especially young men, love football, hence football is often shown on local television – watched together with friends - and is often the topic of casual conversation.
Yabes Tanuri, President Director of Bali Bintang Sejahtera – a company that is based on the beautiful island of Bali, stated that “becoming a publicly-listed company is part of the company’s ambition to achieve its vision of reaching success in terms of innovation, both in football and in Indonesia’s sports industry as a whole”. Ahead of the trading debut he added that he hopes many people support the club by buying its shares. “That way, they can help support us achieve our goals to take Indonesia’s sports and entertainment industry to the next level,” he said.
Read the full article in the June 2019 edition of our monthly research report. You can purchase the report by sending an email to info@indonesia-investments.com or a WhatsApp message to the following number: +62(0)8788.410.6944
Poll Indonesia Investments:
What do you think will be the growth rate of the Indonesian economy in full-year 2019?
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Results
- 5.1% (or lower) (41.5%)
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