Guangzhou Evergrande officially becomes first listed Asian soccer club

Chinese Super League (CSL) five-time winner Guangzhou Evergrande Taobao FC officially became a listed entity after listing its shares on the New Third Board last Friday.

The National Equities Exchange and Quotations (NEEQ) has approved the club’s application for its listing on the New Third Board, seeing the CSL giants, which are money-backed by Chinese billionaires Xu Jiayin and Jack Ma, stand out as the first listed soccer club in Asia.

According to the club’s statement, Guangzhou Evergrande issued 375 million shares for RMB1 each piece on the equities exchange platform.

Some analysts argued the side would have the potential to become a brand valued at tens of billion yuan in the future with bright prospect to monetize.

The club chairman Peng Ke sees the listing as an opportunity to boost Chinese soccer, saying "The listing will help boost sales and lay a solid foundation for development of young Chinese players".

Guangzhou Evergrande Taobao FC, based in Guangzhou, China, has just listed their 5th domestic league trophy in a row in late October and will be hosting United Arab Erimates outfit Al-Ahli in the second round of the AFC Champions League final on November 21.

Source: China Daily