Viva Leisure is coming up with the initial public offer or IPO and the price has been fixed at A$1 per share. With the help of this initial public offer or IPO, Viva Leisure would be raising $26 million. If everything goes as per the plans, the company would commence its trading on November 20, 2018 on ASX. The objective of raising capital is to repay its existing debt facilities, pursue growth opportunity, allow shareholders to sell down, and pay for IPO costs. A Stockbroker Ord Minnett has been carrying out the marketing activities for the IPO and it has also engaged itself in calling for the bids. The investors who showed interests have been informed that the fitness industry could be amounting to total $2.5 billion per year by 2023. The company presently is in charge of 30 clubs as well as 42500 members and is a small player carrying out the operations in the gym market.
It seems like the fund managers need to work out to execute the deal of Viva Leisure. The fund managers would be comparing the company’s business with the listed ones like Event Hospitality and Entertainment as well as Ardent Leisure. The company’s float comes at a time when there are substantial deals with regard to the health and wellness space. However, Crunch Fitness which is being operated in Australia with the help of husband and wife, as well as Next Gen Health & Lifestyle Clubs (which has been funded by the private equity player), have managed to gain the attraction of the offshore as well as local people.
Notably, Viva Leisure was created so that the assets, as well as the working of The Club Group, are managed. It has been managing 2 health club brands named: Club Lime as well as Club Pink. Additionally, it has been managing a personal training division named as Gymmy PT.
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