Sport Clubs Company has received approval to publicly list 30% of its shares on the Saudi stock exchange. The company manages 56 fitness branches throughout Saudi Arabia, catering to both men and women. The listing approval is valid for six months. Recent trends indicate growth in the wellness industry and women’s fitness markets in Saudi Arabia.
The Riyadh-based Sport Clubs Company has received official approval to list 30 percent of its share capital on the Saudi stock exchange. This authorization from the Capital Market Regulator allows the company to sell approximately 34.3 million shares on the main market. However, this approval is only valid for six months and will be nullified if the initial public offering (IPO) is not finalized within that timeframe.
Established in 1994, Sport Clubs operates 56 branches across 18 cities in Saudi Arabia. Their offerings include 41 men’s clubs branded as “Body Masters” and 15 women’s clubs under the “Body Motions” brand, highlighting their commitment to fitness for diverse demographics. Additionally, the company entered the fitness equipment distribution sector in 2020 with the launch of the Body Experts division.
Current trends indicate robust growth in Saudi Arabia’s wellness industry, with fitness brands actively planning for expansion. Recent analyses reveal a significant potential within the women’s fitness market. The success of four Saudi companies—Almoosa, Nice One, Derayah Financial, and Arabian Company for Agricultural and Industrial Investment (Entaj)—in completing IPOs this year underscores the growing interest in the Saudi stock market and its investment opportunities.
In summary, Sport Clubs Company’s approval to list a portion of its shares on the Saudi stock exchange marks a significant milestone in the country’s evolving investment landscape. With a strong presence in the fitness sector and potential for growth in female fitness markets, the company’s IPO could attract considerable attention. The ongoing wellness drive in Saudi Arabia reinforces the positive outlook for sectors related to health and fitness.
Original Source: www.agbi.com
