Singaporean swim lesson provider Fitness Champs Holdings files and sets terms for a $9 million US IPO

Fitness Champs Holdings, the leading provider of swim lessons in Singapore, filed on Monday with the SEC to raise $9 million in a US initial public offering.

The Singapore-based company plans to raise $9 million by offering 2.0 million shares (25% secondary) at a price range of $4.00 to $5.00. At the midpoint of the proposed range, Fitness Champs Holdings would command a market value of $74 million.

Fitness Champs offers general swimming lessons to children and adults, as well as aquatic sports classes such as water polo, competitive swimming, and lifesaving. The company states that it has a market share of about 30%, based on the number of bookings of SwimSafer assessments, Singapore’s mandatory national program for primary school students dedicated to water safety. Fitness Champs’ revenue is split between between both public school-based swim lessons as well as private swim lessons and aquatic sports programs.

Fitness Champs was founded in 2012 and booked $3.6 million in revenue during the 12 months ended 12/31/2023. The company plans to list on the Nasdaq under the symbol FCHL. Bancroft Capital is the sole bookrunner on the deal.