Monday, June 28, 2010

Fitness First Looks to Asia Listing

“BC Partners, the private equity group which owns Fitness First is looking to organise a £1.2bn (€1.46bn, $1.80bn) flotation for the popular gym chain on an Asian exchange, according to sources close to the negotiations. The initial public offering, which would take place in Hong Kong, Sydney, Singapore or Shanghai, is likely to be scheduled to occur within the next year. But insiders emphasise that plans are in their early stages and could change. ‘It’s very very early,’ said a source close to the talks. ‘Due to the focus of the growth of Fitness First’s business, BC is looking into whether an Asian IPO might be a sensible option.’ A decision to list the company that was founded in Bournemouth in the UK on an Asian exchange would represent a setback...

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