VIVA Leisure delays IPO plans

Fitness and recreation facilities group VIVA Leisure has delayed its plans for an initial public offering (IPO), what would have been an industry-first in Australia, with modest intention to raise $26 million for further investment.

Impacted by global and local volatility in the stock market, the Canberra-based business’ IPO is one of a number of IPOs that have been put on ice in recent weeks as stock exchanges around the world have experienced erratic trading, impacted by fears of trade disputes between the USA and its international trading partners.

With eight brands covering all four segments within the health and fitness industry, VIVA Leisure currently owns and operates 24 facilities with over 43,000 members clocking in excess of two million visits to-date in the 2018 calendar year.

Over the past 12 months VIVA have demonstrated significant expansion, opening it’s 22nd, 23rd and 24th facilities in the last three months alone, in addition to having secured six additional sites scheduled to commence trading in the next four months.

It has also recently successfully integrated two major acquisitions in both, Xceler8 24hr Fitness in Wagga Wagga and the Elite Physique gym in Canberra’s South.

Explaining the group’s expansion VIVA Leisure’s founder and Chief Executive Harry Konstantinou says “we are enormously proud of both our team and business’ evolution this year and excited to continue the momentum whilst we progress various stages of negotiations for an additional seven new locations throughout regional Australia.

“Further to the organic growth we are currently exploring the option of acquiring established facilities in both metro and non-metro areas to add to our group. Our primary objective is to achieve in-excess of 40 sites during 2019.”

In 2014, Club Lime was voted one of the ACT's most trusted brands.