Oct 10 Fitness club chain Pure Gym Group Plc
IPO-GYM.L will cancel its initial public offering on Tuesday,
Sky News reported, citing sources.
Pure Gym received sufficient orders but challenging IPO
market conditions made it drop the plan, the newspaper reported
on Monday. (bit.ly/2dWQVEd)
The company, owned by funds advised by CCMP Capital Partners
and Hermes GPE, announced last month that it planned to raise
about 190 million pounds ($236.27 million) through the IPO.
Pure Gym could not be immediately reached for comment.
($1 = 0.8042 pounds)
(Reporting by Parikshit Mishra in Bengaluru)