Life Time goes public again – valued at US$3.6bn
Health club operator Life Time Group has become a publicly traded company again, after it was listed on the New York Stock Exchange (NYSE).
An initial public offering (IPO) completed on 7 October saw the company sell around 39 million shares at US$18, raising US$702m and valuing the company at around US$3.6bn.
Goldman Sachs, Morgan Stanley and BofA Securities acted as joint lead book-running managers for the offering.
The group, which operates 150 Life Time athletic resort destinations in the US and Canada, previously traded on the NYSE from 2004 until 2015, when it was taken over by a group of investors.
Life Time becomes the latest fitness group to go public this year, following the listings of Xponential Fitness, F45 Training and Beachbody.
Since its listing, shares in Life Time have dipped slightly and were valued at US$17.20 at the close of trading on 8 October.
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