Kaesang-Owned Football Club Plans IPO, IDX: Good News

JAKARTA, KOMPAS.com – The football club managed by the son of President Joko Widodo, Kaesang Pangarep, PT Exactly Solo Saestu (PSS) is reportedly going to take the floor on the Indonesia Stock Exchange (IDX).

She was Initial Public Offering (IPO) is carried out, then Persis Solo will follow in the footsteps of Bali United (BOLA) which previously had become a public company.

The Director of Company Assessment for the Indonesia Stock Exchange (IDX) I Gede Nyoman Yetna welcomed the news.

“Information about the IPO plan from Persis Solo is encouraging news, but as of March 26, 2021 we have 24 stock pipelines and there is no football club in it,” said Nyoman on Sunday (28/3/2021).

Also read: Duet Erick Thohir and Kaesang Officially Manage Persis Solo

Nyoman said, after Bali United (BOLA) became a Listed Company on the Stock Exchange, several football clubs in Indonesia had shown interest in being able to conduct an IPO and take advantage of the capital market as a means of transformation and growth.

Therefore, he hopes that Persis Solo and other football clubs in Indonesia will soon become a public company and listed on the IDX, thus giving the club’s supporters the opportunity to share ownership of the club.

Even so, Nyoman said, if a football club wants to enter the capital market, comprehensive preparations are needed because of the dynamic economic and capital market conditions.

“We provide support through discussions and sharing information regarding the IPO and becoming a Listed Company on the IDX. We hope that with this year’s economic and capital market recovery conditions and the possibility of resumption of the soccer league competition in Indonesia, the plans for football clubs to become Listed Companies on the IDX can be realized, “he said.

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Nyoman conveyed that there are several benefits if the company carries out an IPO. Not only limited to fresh funding during the IPO, football clubs that are already listed on the stock exchange can issue their shares back to the public through rights issue.

“Through the Capital Market, football clubs can obtain sustainable funding,” said Nyoman.

He added that if the company has a share of public ownership of more than 40 percent, the football club will receive an incentive to reduce the corporate income tax rate by 3 percent.

Football clubs that take the floor on the stock exchange are also considered to be in the public eye. Starting from analysts, media, to investors. It will be a means of promotion and increasing strategic partners or sponsorship for the club.

Apart from that, football clubs can also get other benefits, such as increasing profitability and efficiency, as well as strengthening corporate governance. Supporter can also co-own their favorite football club, resulting in an attachment between the para supporter and football clubs can improve.

Also read: Profit and Loss If your company goes public on the IDX

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