Abandoned IPO cost Pure Gym £6.8m
Leisure Opportunities
Job search
Job Search
see all jobs
Latest job opportunities
star job
Strip Wax Bar & Boutique
Competitive Salary and Benefits
London, UK
Madame Tussauds
Competitive
San Francisco, CA, USA
star job
Center Parcs
£21,200 plus commission and amazing benefits
Wiltshire, UK
Merlin Entertainments Group
Competitive
Auburn Hills, MI, USA
star job
The Bulgari Hotel London
Competitive Salary & Benefits
London, UK

Abandoned IPO cost Pure Gym £6.8m

Job opportunities
Letchworth Sports and Tennis Club
£9-9.50 per hour
location:
Central Bedfordshire Council
£30,141 - £31,587 per annum, pro rata
location: Shefford, UK
more jobs

Pure gym's planned initial public offering (IPO) that was abandoned last year cost the group £6.8m (US$8.48m, €7.9m), according to sources.

The cost was because the operator had "two runs at it," which involved "a lot of work," sources told Health Club Management.

In January 2016, HCM reported that Pure Gym was considering floating on the stock market.

Later in July, the planned IPO was put on ice because of uncertainty caused by the vote to leave the European Union.

In September, Humphrey Cobbold, Pure Gym chief executive, said the operator was "ready to become a listed company" and that it would be using the IPO to raise £190m (US$237m, €220.6m). However, a month later Cobbold told HCM that it had withdrawn its plans due to challenging market conditions.

Earlier today (30 March), Pure Gym announced that revenues rose by 28 per cent to £159.9m (US$198.5, €184.9m) last year, up from £125.2m (US$155.4m, €144.8m) in 2015.

In 2015, when the Gym Group floated, its IPO-related costs were £7.6m (US$9.5m, €8.8m).

Sign up for FREE ezines & magazines
Pure Gym's planned initial public offering (IPO) that was abandoned last year cost the group £6.8million (US$8.48m, €7.9m), according to sources.
HAF
THUMB13553_89459.jpg
employer of choice
Would you like to work for a gym operator that allows you to develop and use your skills to the full whilst being well rewarded? The Gym is totally committed to allowing 'the manager to manage' and rewarding our key personnel for delivery... More
Active IQ
Active IQ