Tunisian giants Espérance de Tunis will commence selling shares to strengthen their financial capabilities. The Tunis based club will be listed on the Tunis Stock Exchange as they bid to sell shares to their fans. The initial public offering of the shares will be available this year.
The club set up a different company that is named Taraji Holdings for this purpose. The holding company is expected to engage in economic activities, holding several companies under its umbrella. Among them are the Taraji Store, Hotel du Parc, Taraji Land and Taraji Mobile. The companies combined turnover in 2023 was 10 million Tunisian dinars ($3.1 million USD). Espérance is expected to raise more than 30 million dinars ($9.34 million USD) from the IPO.
The main aim of sharing shares will be to raise funds to expand business interests. Tunisian clubs are struggling financially and this bold move taken by Espérance is receiving plaudits from fans. EST is also in the process of building a museum that reflects the rich history of the club.
Comments