Sport Clubs to start trading on Saudi stock exchange on July 22
The company will trade under the symbol 6018 and ISIN Code SA56BG3IU118.
The stock will have a daily and static price fluctuation limit of +/-30% and +/-10%, respectively.
Sport Clubs floated 34.32 million shares, representing 33% of its capital, at a nominal value of SAR 1 per share.
The retail tranche was oversubscribed by about 533.6%, with a minimum allocation of 10 shares per individual subscriber.
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 set up four years ago.
(Editing by Seban Scaria seban.scaria@lseg.com)
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