From Bloomberg
Virgin Active Holdings Ltd., the British gym chain, wants to hold an initial public offering in Johannesburg by the end of June this year, according to two people with knowledge of the matter.
Virgin Active has appointed five banks, all of them with operations in South Africa, to help it manage the share sale, said one of the people, who asked not to be identified as the information is private.
Virgin Active has 263 clubs in nine countries with more than 1.3 million members, according to its website. It has 114 outlets in South Africa, more than in any other country.
Nick Fox, a spokesman for billionaire Richard Branson’s Virgin Group in London, declined to comment after receiving e-mailed questions. A Johannesburg-based spokesman for Virgin Active declined to comment.
Goldman Sachs Group Inc., UBS AG, Standard Bank Group Ltd., Bank of America Corp. and Morgan Stanley, which has a joint venture with Rand Merchant Bank in Johannesburg, are the banks appointed by Virgin Active, one of the people said. Spokesmen for the banks declined to comment.
Read more at Bloomberg