Sports Clubs Company has launched its initial public offering on the Saudi Exchange, aiming to raise between SAR 240.1 million and SAR 257.25 million ($64 million to $68.6 million), according to a filing on Sunday by financial advisor and bookrunner Saudi Fransi Capital.
The company has set an indicative price range of SAR 7 to SAR 7.50 per share for its 30% stake sale, with the institutional book-building window open from June 22 to June 26. The final offer price will be determined after the book-building process and will precede a retail subscription tranche accounting for 20% of the offered shares.
The Capital Market Authority approved the sale of 34.3 million shares in March 2025. Participating institutional investors can apply for a minimum of 100,000 shares and a maximum of 5.72 million shares.
Founded in 1994 and based in Riyadh, Sports Clubs Company operates 56 fitness branches across 18 cities in Saudi Arabia. The network comprises 41 men’s gyms under the Body Masters brand and 15 women’s centres under the Body Motions label, which was launched in 2021.
The IPO adds to Saudi Arabia’s broader capital market activity. According to Al Rajhi Capital’s 2025 forecast, the Kingdom is expected to see between 50 and 60 initial public offerings (IPOs) over the next two years. Seven listings have been approved or completed so far this year, and 97 IPO applications are under review by the CMA.
The offering is part of a wider trend by privately held companies in Saudi Arabia seeking market listings to capitalise on growing investor appetite and ongoing economic diversification under Vision 2030. Fitness and wellness have been earmarked for development as part of national health and lifestyle reforms.
