Fitness First Plans $549M IPO

Gym operator Fitness First, which is owned by buyout shop BC Partners, has filed to raise as much as $549 million in an initial public offering in Singapore, Reuters reported, citing a report in IFR Asia. BC Partners paid 835 million pounds for the company in 2005, Reuters said.

(Reuters) – Gym-operator Fitness First plans to raise as much as $549 million in an initial public offering in Singapore, IFR Asia said on Monday.

CLSA, Credit Suisse and JPMorgan have been appointed as bookrunners for the IPO that is expected to take place in the third quarter, IFR reported.

Private equity firm BC Partners paid 835 million pounds to take control of Fitness First in 2005. (Reporting by Daniel Stanton; Editing by Saeed Azhar)