In a significant financial milestone for Saudi Arabia’s fitness industry, Sport Clubs Co. is set to start trading on the Saudi Stock Exchange (Tadawul) on July 22. This follows a remarkable oversubscription of the retail tranche by 533.6%, signaling robust investor confidence and interest.
Trading under the symbol 6018 and the ISIN Code SA56BG3IU118, Sport Clubs Co. will enter the Main Market (TASI) with a daily price fluctuation limit of +/-30% and a static limit of +/-10%. The company floated 34.32 million shares, which equates to 33% of its capital, at a nominal value of SAR 1 per share, showcasing strong retail demand with a minimum allocation of 10 shares per individual subscriber.
Sport Clubs Co., founded in 1994, has established an extensive fitness footprint across the Kingdom, with 56 branches in 18 cities. Its portfolio includes 41 men’s clubs operating under the well-established Body Masters brand and 15 women’s clubs under the newer Body Motions brand, launched just four years ago. This diversification reflects the company’s strategic response to the growing demand for fitness and wellness services in Saudi Arabia.
Financial analysts attribute the oversubscription partly to the increasing health and fitness consciousness among Saudis, which has been a notable trend over the past decade. “The oversubscription rate highlights a strong investor appetite for companies in the wellness sector,” commented Ahmed Al-Khalifa, a financial analyst at Riyadh-based investment firm Al-Mashari Capital. “Sport Clubs Co. has not only capitalized on this trend but has also positioned itself as a leading player in the industry.”
The listing comes at a time when the Saudi government is encouraging diversification of the economy away from oil, aligning with Vision 2030—a strategic framework aimed at reducing the country’s dependence on oil, expanding public service sectors, and developing a more diverse and sustainable economy.
As Sport Clubs Co. begins trading on Tadawul, it sets a precedent for other fitness and lifestyle companies contemplating a public offering. The success of its IPO could pave the way for further listings in the sector, adding vibrancy to Saudi Arabia’s burgeoning stock market.
