Pure Gym to apply for £190m main market listing

Budget fitness chain Pure Gym Group revealed its plans to float on the London Stock Exchange on Wednesday, months after it first signalled the possibility.

The privately-held firm said it intends to apply for a main market listing, raising a gross £190m in the process.

“Pure Gym’s growth from a start-up company in 2008 to undisputed market leader today is a story of disruption and shows how entrepreneurial vision can build real business success,” said chairman Tony Ball.

He said that when the company was founded, the traditional gym market was not catering to modern users who want to use technology, have the ability to exercise around the clock and not be locked into long-term contracts.

“Our successful model is built around our members’ needs and it has made gym membership accessible for hundreds of thousands of people and created a fast growing, successful company,” he explained.

“Considering what the company has achieved in just eight years, I am hugely excited about its potential for the future.”