In a landmark move for both the sports and financial sectors in Tunisia, the Board of Directors of the Tunis Stock Exchange has granted preliminary approval for the listing of Taraji Holding on the Main Market. The decision, made during its meeting on June 24, 2025, paves the way for a bold new chapter in the evolution of professional football in Tunisia.
The planned listing includes 18.01 million existing shares and 8 million new shares to be issued through a capital increase—bringing the total to over 26 million shares, each with a nominal value of 5 Tunisian dinars.
At the heart of the operation is a public offering of 8 million shares, representing 30.76% of the company’s share capital post-transaction. The offering will be led by MAC SA, acting both as lead advisor and company valuator. The final green light hinges on the publication of a prospectus approved by the regulator (CMF).
About Taraji Holding
Taraji Holding is the commercial and financial arm of Espérance Sportive de Tunis (EST)—one of the most storied football clubs in Tunisia and across Africa. Created to modernize the club's financial and governance structure, the company brings together all of EST’s revenue-generating activities under one roof: TV rights, sponsorships, merchandising, ticket sales, events, and more.
Its mission? To make the club more autonomous, professional, and investment-ready. This marks a first in Tunisia—a football club transforming itself into a publicly traded company.
More Than Just an IPO
This a historic moment for Tunisian sports. By going public, Taraji Holding opens new avenues for financing—welcoming both the general public and institutional investors. At the same time, the move is expected to boost financial transparency and corporate governance within the organization.
The deal reflects a global trend: as competition revenues alone are no longer enough, clubs around the world are turning to more sustainable, business-oriented models. Taraji Holding’s IPO could inspire similar moves in Tunisia, setting a precedent for other clubs or sports organizations to follow suit.
It also holds promise for the Tunis Stock Exchange, which may attract a fresh wave of retail investors—supporter-shareholders, a familiar phenomenon in Europe and Latin America, could soon become a reality in Tunisia.
The next critical milestone will be the publication of the CMF-approved prospectus, which will officially kick off the public offering and lead to Taraji Holding’s debut on the stock market in the coming months.
