Riyadh’s Sports Clubs Co List 30% Stake on Saudi Stock Exchange

Saudi Arabia’s Capital Market Authority (CMA) has approved Riyadh-based Sports Clubs Company to offer 30% of its shares for public subscription on Tadawul, the Kingdom’s main stock exchange. The offering will include 34.3 million shares and must be completed within six months of the approval date, or the authorisation will be considered void.

Founded in 1994, Sports Clubs Company operates a total of 56 branches across 18 cities in Saudi Arabia. Its portfolio includes 41 men’s fitness centres under the long-established Body Masters brand and 15 women’s clubs under the Body Motions brand, which launched four years ago to tap into the expanding women’s fitness market in the Kingdom.

This move comes amid a broader wave of listings on Tadawul. Over the past year, companies such as Almoosa Health Group, Nice One, Derayah Financial, and Arabian Company for Agricultural and Industrial Investment (Entaj) have successfully gone public.

Looking ahead, Al Rajhi Capital projects that 50 to 60 more companies could list on the Saudi exchange within the next two years. As of now, seven IPOs have been approved or completed, while an additional 97 offerings are currently under review. The offering by Sports Clubs Company aligns with the growing trend of sectoral diversification within the Kingdom’s capital markets.