Guangzhou Evergrande becomes first listed soccer club in China and Asia

Guangzhou Evergrande Taobao Football Club, a five-time Chinese Super League winner, took a significant step on Friday after listing its shares on the New Third Board.

The green light from the National Equities Exchange and Quotations for the listing is expected to prop up the fortunes of the ailing soccer club, which has Brazilian World Cup winning coach Luiz Felipe Scolari as its head coach, analysts said.

The Guangzhou-based club has become the first listed soccer club in China and Asia.