Erick Thohir, Chairman of the Indonesian Football Association (PSSI), has revealed that PT Garuda Sepakbola Indonesia (GSI) plan to list an initial public offering (IPO) on the Indonesia Stock Exchange (IDX).

GSI is a company set up by PSSI in an effort to manage the commercial and development aspects of football in Indonesia. PSSI owns 95 percent of GSI shares, and 5 percent by the Indonesian Football Bakti Foundation.

According to Erick, GSI was formed to manage all intellectual property rights (IP rights) related to the national team. GSI's profits will still be allocated entirely to support the national team, not for dividend distribution.

Based on the IPO pipeline data released by IDX, there are 20 companies lining up to list their IPOs. I Gede Nyoman Yetna, Director of Company Assessment at IDX said that among the 20 companies, 19 are jumbo-asset companies.

"As of February 14, 2025, 8 companies have listed their shares on the Indonesia Stock Exchange (IDX) with funds raised of Rp3.7 trillion (US$223 million)," Nyoman said on Monday, February 24, 2025.

The 20 companies in the lineup based on sectors:

● 2 companies from the basic materials sector;

● 0 companies from the cyclical consumer sector;

● 6 companies from the non-cyclical consumer sector;

● 3 companies from the energy sector;

● 1 company from the financial sector;

● 3 companies from the health sector;

● 4 companies from the industrial sector;

● 0 companies from the infrastructure sector;

● 0 companies from the property and real estate sector;

● 0 companies from the technology sector;

● 1 company from the transportation and logistics sector.