{"id":98073,"date":"2025-06-23T00:00:00","date_gmt":"2025-06-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/23\/sport-clubs-sets-ipo-price-range\/"},"modified":"2025-06-23T00:00:00","modified_gmt":"2025-06-23T00:00:00","slug":"sport-clubs-sets-ipo-price-range","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/06\/23\/sport-clubs-sets-ipo-price-range\/","title":{"rendered":"Sport Clubs sets IPO price range"},"content":{"rendered":"

Sport Clubs<\/a><\/strong> is guiding on a price range of SAR 7-7.<\/strong>50<\/strong> per share for its main market IPO<\/strong>, according to a filing to Tadawul<\/a> released yesterday. The IPO stands to raise up to SAR 257.3 mn in proceeds, implying a market cap of up to SAR 857.5 mn at listing.<\/p>\n

Institutional subscriptions opened yesterday for 100% of the offering<\/strong>, and will run until Thursday, 26 June, during which large-scale investors will be able to book between 100k and 5.7 mn shares each. Retail investors will have a 20% clawback to subscribe to on Tuesday, 8 July, provided there is sufficient demand.<\/p>\n

REMEMBER- <\/strong>The Riyadh-based fitness chain operator is taking a 30% stake<\/a> to market \u2014 good for 34.3 mn shares, nearly three months after securing regulatory approval for the move. 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.<\/p>\n

Use of the proceeds: <\/strong>Sport Clubs will use 60% of the net primary offering proceeds to set up and equip new fitness clubs. Meanwhile, 20% will be used to buy equipment, 16% to develop its existing facilities, and 4% to settle outstanding debts. Selling shareholders will take home net proceeds from the secondary share sale, while offering expenses will amount to SAR 25 mn.<\/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

ALSO IN THE PIPELINE-<\/strong><\/p>\n