Pure Gym blames volatile markets for pulled float plans



Fitness chain Pure Gym has scrapped plans for a stock market flotation, citing “market volatility”.
The group – which counts Scottish track cycling legend Sir Chris Hoy among its investors – had aimed to raise £190 million from its initial public offering (IPO), announced less than a month ago, to help fund ambitious expansion plans.
But today chief executive Humphrey Cobbold said: “Given the challenging IPO market conditions, the board has decided not to proceed with a listing despite the strong interest shown by potential investors.
“Current trading is strong, giving us further confidence... read more

 
11 October 2016 in Business, Views: 40
Source: Scotsman
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