Major Tunis Football Club to List Commercial Unit on Stock Exchange
TLDR
- Tunis Stock Exchange Board of Directors has granted preliminary approval for the listing of Taraji Holding
- The listing will include 18.01 million existing shares and 8 million new shares issued via a capital increase
- Taraji Holding's IPO marks a historic shift in Tunisian sports governance, aligning professional football with corporate best practices
In a first for Tunisia’s sports and capital markets, the Tunis Stock Exchange Board of Directors has granted preliminary approval for the listing of Taraji Holding, the commercial arm of Espérance Sportive de Tunis (EST), on the Main Market. The decision was made during the board’s meeting on June 24, 2025.
The listing will include 18.01 million existing shares and 8 million new shares issued via a capital increase, bringing the total to over 26 million shares, each with a nominal value of 5 Tunisian dinars. The public offering—representing 30.76% of share capital post-listing—will include the 8 million new shares, led by MAC SA as advisor and valuator. Final approval depends on the CMF’s prospectus validation.
Taraji Holding's IPO marks a historic shift in Tunisian sports governance, aligning professional football with corporate best practices. As the first sports-related entity to list on the Tunis Stock Exchange, the move opens new funding channels while promoting transparency and long-term sustainability.
The holding consolidates EST’s commercial operations—including TV rights, sponsorships, merchandising, ticketing, and events—into a standalone entity structured for capital markets. The listing aims to make the club financially autonomous, more accountable, and investment-ready.
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Points clés à retenir
Globally, football clubs—from Manchester United to Ajax—have turned to public markets to raise capital and diversify revenue. Taraji Holding’s listing echoes that model and may catalyze broader adoption across Tunisian sports, creating new dynamics for governance and investor participation. The IPO is also expected to broaden retail investor interest in Tunisia’s capital market. With supporter-shareholders common in Europe and Latin America, Taraji Holding could ignite a similar trend in North Africa, drawing in a new generation of sports-focused retail investors. Once the CMF-approved prospectus is published, the public offering will launch, setting the stage for one of the most anticipated listings in Tunisia’s recent capital market history.
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