{"id":97753,"date":"2025-06-11T00:00:00","date_gmt":"2025-06-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/sports-clubs-to-divest-30-stake-on-tadawul\/"},"modified":"2025-06-11T00:00:00","modified_gmt":"2025-06-11T00:00:00","slug":"sports-clubs-to-divest-30-stake-on-tadawul","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/11\/sports-clubs-to-divest-30-stake-on-tadawul\/","title":{"rendered":"Sports Clubs to divest 30% stake on Tadawul"},"content":{"rendered":"

<\/strong>Sport Clubs iss<\/strong>ues prospectus for Tadawul IPO:<\/strong> Fitness chain operator Sport<\/a>Clubs<\/a> is taking a 30% stake \u2014 good for 34.3 mn shares \u2014 to the main market Tadawul in a hybrid offering, according to its prospectus (pdf)<\/a>. Existing shares account for some 23.9 mn shares \u2014 representing 21% of post-IPO capital \u2014 while the remaining portion being newly issued shares. This comes nearly three months after<\/a> the Riyadh-based firm secured approval from the Capital Market Authority (CMA) for the IPO.<\/p>\n

Big money goes in first: <\/strong>The company will announce its IPO price range on Sunday, 22 June, according to its IPO webpage<\/a>, which will kickstart the institutional subscription period, set to run between 22-26 June. Large-scale investors will be able to book 100% of the offered shares, with each investor allowed to buy between 100k and 5.7 mn shares.<\/p>\n

Retail investors will <\/strong>have a 20% clawback<\/strong> to subscribe to<\/strong> on Tuesday, 8 July<\/strong>, provided there is sufficient retail interest. They can subscribe to a maximum of 250k shares each and a minimum of 10. Final allocations will take place no later than Thursday, 10 July.<\/p>\n

Post-IPO structure:<\/strong> Selling parties \u2014 including Special Opp. Investment, Diamond Opp. Sports, and Elaf Al Khaleej Commercial Investment \u2014 will retain a 56% post-IPO majority, down from 80%. Their shares will remain on lockup for 6 months from the first day of trading.<\/p>\n

Use of proceeds:<\/strong> Sport Clubs will use 60% of the net primary offering proceeds to set up and equip new fitness clubs. It will direct 20% of the fresh capital to buy equipment, 16% to develop its existing facilities, and 4% to settle outstanding debts. The offering will cost the issuer SAR 25 mn in expenses.<\/p>\n

A snapshot of financial performance: <\/strong>The fitness company\u2019s bottom line was up 10.6 % y-o-y at SAR 25.1 mn in 2023, while its top line grew 1% y-o-y to SAR 270.6 mn in the same year.<\/p>\n

Risk factors: <\/strong>The company operates a network of 55 fitness-oriented real estate assets across the Kingdom, all leased from third-party landlords, exposing it to \u201cto risks associated with the termination of lease agreements by lessors or the inability to renew them.\u201d It also has 12 branches nationwide and a fully-owned subsidiary called Third Sports Amaken.<\/p>\n

ADVISORS- <\/strong>BSF Capital is quarterbacking the transaction as lead manager, financial advisor, bookrunner, and underwriter. Kirkland & Ellis International is providing counsel. PwC is serving as financial due diligence advisor, Dr. Mohamed Al-Amri & Co. Chartered Accountants as auditor, and Portas Consulting MEA as market consultant.<\/p>\n

Receiving agents<\/strong> include BSF Capital, Al Rajhi Capital, Albilad Investment, Riyad Capital, SNB Capital, ANB Capital, Derayah Financial, SAB Invest, and Alinma Investment, among others. <\/p>\n","protected":false},"excerpt":{"rendered":"

The company will announce its IPO price range on Sunday, 22 June<\/p>\n","protected":false},"author":1,"featured_media":97754,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2542],"tags":[10,4325,2637,29,8,4324],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-97753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-enterpriseam-ksa","tag-fitness","tag-ipo","tag-ipo-watch","tag-sports","tag-sports-clubs-company","wpautop","entry"],"acf":{"mongo_id":"190b25c6-ba0e-4588-aba5-5c502dc439c1","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/6\/523.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Sports Clubs to divest 30% stake on Tadawul","related_issue":[97737],"teaser":"The company will announce its IPO price range on Sunday, 22 June","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/6\/.0c73061d-239b-47b2-9755-1abf0cee0805.mp3"},"yoast_head":"\nSports Clubs to divest 30% stake on Tadawul - 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