JAKARTA: Indonesia's Bali United this week became the first club in Southeast Asia to list its shares, a move that officials and fans hope could be a step towards developing a league that has been dogged by allegations of corruption.
Bali United supporters snapped up nearly a third of the shares, primarily in small holdings, according to the listing's underwriter, Kresnas Securitas. Indonesian soccer's governing body is currently embroiled in a match-fixing scandal, with police investigating some executives for allegedly offering bribes to coaches.
He said the club had decided to list after Indonesian President Joko Widodo issued a government decree in March calling for further development of the game.
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