Bali United F.C. is one of Indonesia’s soccer clubs based in Gianyar, Bali. Before being named Bali United F.C., it was formerly known as Persatuan Sepak Bola Indonesia Samarinda (Persisam). Due to several financial challenges, an Indonesian entrepreneur, Pieter Tanuri, took over the club and moved its location from Samarinda to Bali, thus the change of name to Bali United or also known as Serdadu Tridatu. Bali United F.C. went public or performed an IPO (Initial Public Offer) last Monday, 17th of June 2019. In all of Southeast Asia, Bali United F.C. is the first soccer club to go public and also the second in all of Asia. They can be found in the stock market under the name PT Bali Bintang Sejahtera Tbk. and its stock market code is “BOLA”. Moreover, the club offers initial shares at a starting price of Rp 175 per share and initially issued or listed 2 billion shares. Fortunately, stock prices of the soccer club rocketed from Rp 175 per share to Rp 296 per share, which is a highly significant 69% increase that provides Bali United F.C. with Rp 350 Billion to fund for its facilities, recruitment of players or coaches, outlet expansions of Bali United F.C., and many more. The increase in funding and capital will surely assist in developing the football club, and possibly the industry as a whole.
Furthermore, Bali United’s president director, Yabes Tanuri told reporters that he aims more people, especially the young generation could support the club through buying its shares and eventually develop Indonesia’s sport industry. “That way, they can help support us achieve our goals to take the country’s sports and entertainment industry to the next level since it has not been seen as a potential industry by others,” he said. Though, flooring on the stock exchange does not guarantee Bali United on achieving big things. As mentioned in his interview, Yabes is certain that a club’s achievement has nothing to do with their performance in the stock exchange. Yet, by having shares, he believes the club is able to compete even if it experiences a downturn since big European clubs including Manchester United and Real Madrid managed to do so.
PSSI General Chairman, Iwan Budianto, hopes that all Indonesian football clubs go public or do an Initial Public Offering on the capital market like Bali United. “When a club releases its shares it will become more open, demanded to be more accountable and transparent. This is what we want in our football," he said. in addition, Iwan added that it can be beneficial for a football club to be playing in the capital market, one of them is financially. PSSI claims to be ready to support Indonesian football clubs who want to follow in the footsteps of Bali United playing in the capital market. "We have to facilitate this kind of thing, what is done by Bali United, what is needed through regulation, we try to help as much as possible," Iwan quoted.
Sources:
Kompas
CNBC Indonesia
CNN Indonesia
What do you want to read about on the next #TGIF? Let us know via comments!