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Viva Leisure lodges prospectus and application for ASX listing

Viva Leisure lodges prospectus and application for ASX listing
May 10, 2019

Leading fitness club and aquatic centre operator Viva Leisure Limited is moving forward with plans to become the only facility group currently listed on the Australian Securities Exchange (ASX) after submitting its prospectus and listing application for an Initial Public Offering (IPO).

Viva Leisure’s vision is to become the number one health, fitness and aquatic centre operator in the market through expanding its geographical reach via organic growth and considered acquisitions, continuing to invest in its unique business model and increasing its product and service offerings to members, who are core to its business.

The purpose of the IPO is to provide Viva Leisure with access to capital markets and added financial flexibility to pursue further growth opportunities and create a liquid market for its shares.

Viva Leisure will raise $20 million of new money as part of its IPO with the proceeds to be used to support the Viva Leisure business model, fund expansion opportunities, provide working capital and pay the costs of the offer.

In particular, part of the offer proceeds will be used to fund the acquisition of Fitness 24/7, a regional business with two health clubs in Albury, NSW and one health club in Wodonga, Victoria. This acquisition will bring Viva Leisure’s total operating locations to 33 with a further 15 greenfield locations in various stages of opening. Viva Leisure expects to have 48 operational locations within the next 12 to 15 months.

Commenting on the move, Harry Konstantinou, Viva Leisure’s founder, Chief Executive and Managing Director, explained “(this) marks a significant milestone for Viva Leisure and the health and leisure industry in Australia. My board and I are delighted with the strong level of investor interest and support for our IPO.

“Being the only health club group listed on the ASX would be a significant opportunity to introduce the industry to new investors. Viva Leisure operates a successful, innovative, leading technology based disruptive health club business driven by an experienced management team and board of directors.”

Viva Leisure was the first health club operator in Australia to offer clubs in all four segments within the health and fitness industry, including 24/7 ‘express’ sized clubs, boutique clubs, regular sized clubs and ‘big box’ clubs. By delivering across all four segments of the market, Viva Leisure’s brands are well positioned to meet the diversity of interests within local communities, providing the best possible format across a range of clubs and equipment.

First commencing operations in the ACT in 2004, Viva Leisure currently has over 47,500 members at facilities across the ACT and in regional NSW including Goulburn, Wollongong and Wagga Wagga.

Once listed, Viva Leisure is expected to have a market capitalisation of $52.6 million and expects to generate $46.8 million of revenue for the 2020 financial year and $11.4 million of earnings before interest, tax depreciation and amortisation.

Viva Leisure’s key benefits include:

• Leading candidate to exploit the unconstrained enterprise growth opportunity in the industry;
• Scalable and bespoke business model (not a ‘one size fits all’ business) with strong branding;
• Technology focused business which provides it with a competitive advantage and enhances barriers to entry; and
• Strong cash flows from membership-based revenue model.

Full details of the offer and Viva Leisure’s business will be included in the Prospectus which has been lodged with the Australian Securities and Investments Commission (ASIC) and the ASX. 

For more information go to

Images: Harry Konstantinou (top) and Viva Leisure's new Club Lime facility in the ACT suburb of Tuggeranong (below).

Related Articles

7th May 2019 - Viva Leisure opens three boutique fitness spaces in Tuggeranong precinct

20th March 2019 - Club Lime announces acquisition of Goulburn health club Absolute Fitness

23rd January 2019 - Viva Leisure looks to continue fitness club expansion through 2019

29th October 2018 - VIVA Leisure delays IPO plans

18th October 2018 - Stock market launch for Club Lime owner Viva Leisure reflects positive fitness industry performance

21st September 2018 - VIVA Leisure group acquires Wagga Wagga’s Xceler8 24hr Fitness

5th September 2018 - Viva Leisure acquires South Canberra’s Elite Physique fitness club

7th August 2018 - Club Lime opens latest ACT club

4th May 2018 - Club Lime opens 20th fitness club

12th March 2018 - Club Lime to open four new facilities in 2018

16th January 2016 - Club Lime opens new facility in Braddon

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