The Island of the Gods hometown soccer club, Bali United FC (Football Club) will soon become the first publicly traded soccer club in Indonesia and Southeast Asia. PT Bali Bintang Sejahtera the club’s umbrella company has undergone the due diligence process and will launch an IPO on the Indonesia Stock Exchange (IDX).
The company plans to issue two billion shares or about 33.33 percent of the total paid-up capital. The bid price for the Gianyar-based professional soccer club will range from IDR155 – 175 per share — which could potentially allow the IPO to raise up to IDR310 – 350 billion. They have also appointed PT Buana Capital Sekuritas and PT Kresna Sekuritas as their underwriters.
Bali United, which competes in Indonesia’s top-flight football league, Liga 1, plans to use around 60.5 percent of the IPO as the working capital, while 20.4 percent will be used to strengthen the capital structure of its subsidiaries with the remaining 19.1 percent being reserved for capital expenditure.
During an IPO launch event in Gianyar Regency on Friday, Bali United CEO Yabes Tanuri said the decision to go public was intended so that the general public could own a part of the Serdadu Tridatu (Tridatu Troops).
“We have always been asked to be more transparent. By going public, everyone can be the stockholders in Bali United. We all can be part of one family,” Yabes said in a written statement on Friday, as quoted by Detik.
The secretary general of Indonesia’s Soccer Association (PSSI), Ratu Tisha Desria, PT Liga Indonesia Baru Commissioner Gusti Randa and Persija Jakarta CEO Ferry Paulus were also present at Friday’s event. Tisha said Bali United’s IPO was a breakthrough in the development of Indonesia’s soccer and sports industry.
“This is the sweetest gift for PSSI’s 89th birthday this year,” Tisha said.
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