Pure Gym, Britain’s biggest health and fitness club chain, is close to abandoning a £1.5bn stock market listing amid growing signs of jitters among investors.Sky News has learnt that Pure Gym, which is majority-owned by the private equity firm Leonard Green & Partners, could decide as soon as this week to shelve its proposed initial public offering (IPO).
If confirmed, the move would underline the unease which has gripped the London IPO market in recent weeks.
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Pure Gym has bounced back after the shock of the pandemic when forced closures cost it losses of £0.5m a day
Marley, a manufacturer of roof tiles, postponed its £500m listing earlier this week, citing market volatility, while Fruugo, an online marketplace, said last week that it was “pausing” a float.Pure Gym has not formally announced an IPO but said in August that it was considering one among options to raise capital. …
