Saudi’s Sport Clubs Sets IPO Price Range, To Raise Maximum of $69mln

Riyadh-based Sport Clubs Company has set the price range for its initial public offering (IPO) on the Saudi Exchange (Tadawul) between 7 and 7.50 Saudi riyals ($1.87.25-2) per share. 

The company will raise a minimum of SAR 240.1 million to a maximum of SAR 257.25 million ($68.55 million) from the listing, Saudi Fransi Capital, the financial advisor, underwriter and bookrunner, said in a statement published on the Saudi stock exchange on Sunday.

The book-building period for the institutional tranche, which started on June 22, will end on June 26. 

In March 2025, the company received approval from the Capital Market Authority to sell 34.3 million shares, representing 30% of its share capital, on the main market (TASI).

Participating entities can apply for a minimum of 100,000 shares, with a maximum of 5,719,999 shares.

The final price will be determined after the completion of the book-building process, followed by the retail subscription, representing 20% of the total shares.

Set up in 1994, Sports Clubs operates 56 branches across 18 cities in the kingdom. Its portfolio includes 41 men’s clubs under the Body Masters brand, which was launched decades ago, and 15 women’s clubs under the Body Motions brand, which was launched four years ago.

A 2025 outlook by Saudi brokerage Al Rajhi Capital estimates the kingdom could witness between 50 to 60 IPOs over the next two years, with seven already approved or closed, while 97 IPOs remain under review.