Forbes Indonesia - July 2019

JULY 2019 FORBES INDONESIA | 43

B

ali-based football club Bali United scored

a history on June 17, as it becomes the first

listed football club in the country. Not just

in Indonesia, the club is also the first to be

a public listed company in Southeast Asia

and the second sports management firm

to go public in Asia after China’s Guangzhou Evergrande

Ta o b a o F C i n 2 0 1 5. T h e l i st i n g h a d b e e n m e t w i t h m u c h e n-

thusiasm from investors, with the shares 110 times oversub-

scribed during the public offering period. At the first day of

trading the company share price rocketed by 69% to Rp 296

and hit the Indonesia Stock Exchange ceiling for auto re-

jection. Such warm acceptance could spark a new trend for

other sports team to follow the step.

“I never thought Bali United share price would go way

far beyond Rp175 per share, because our first plan was

only raising Rp300 billion,” says Yabes Tanuri, CEO of PT

Bali Bintang Sejahtera, the company behind the football

club. Yabes is also the brother of investment banker Pieter

Tanuri who has a close connection with the Salim group.

Bali United is actually more than just a football team.

The company engages in various businesses through its

Bali United is the first football club in

Southeast Asia to go public. Similar steps

by others could improve the country’s

football industry.

ULTIMATE

GOAL

AHMAD ZAMRONI/HKV FOR FORBES INDONESIA

BYULISARI ESLITA