Pure Gym to push ahead IPO plan amid EU vote

Pure Gym, the Leeds-based low cost gym operator, is reportedly going ahead with plans to float on the stock market in June.

The initial public offering, which will value the gym chain at around £500m, is set to occur during the referendum on Britain’s European Union membership. AsSky Newsreported, this period will be one of uncertainty in the market place.

News of a possible IPO of Pure Gym first surfaced in January when it was reported that Rothschild had been acting as an adviser to the gym chain’s board.

Investment banks Jefferies, JP Morgan, and Credit Suisse have been appointed to deal with the float.

Pure Gym, which was first launched by entrepreneur Peter Roberts in 2009,acquired LA Fitness and its 43 fitness clubs last year. The gym chain now operates an estimated 150 gyms across the UK.

If the market becomes volatile as a result of the EU referendum, Pure Gym can still reportedly delay its listing.

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