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SINGAPORE - Fitness Champs Holdings Limited (NASDAQ:FCHL), an aquatic sports education provider in Singapore, has completed its initial public offering of 3,750,000 ordinary shares at $4.00 per share, according to a press release statement. The company, now valued at approximately $534 million by market capitalization, has seen its shares trade at $1.69, significantly below the IPO price.
The company began trading on the Nasdaq Capital Market on Wednesday under the ticker symbol "FCHL." The offering consisted of 2,000,000 shares from the company and 1,750,000 from selling shareholders.
Fitness Champs received gross proceeds of $8.0 million before deducting underwriting discounts and other expenses. The company plans to use the net proceeds to expand its coaching team, enhance marketing efforts, develop business through vertical expansion in other aquatic sports, pursue potential strategic acquisitions, repay shareholder loans related to offering costs, and for general working capital.
Bancroft Capital served as the lead managing underwriter and book-runner for the offering, which was conducted on a firm commitment basis.
Fitness Champs provides swimming lessons to children and adults, including ladies-only swimming lessons, as well as specialized aquatic sports classes such as water polo, competitive swimming, and lifesaving. The company is among the largest providers of swimming lessons to children in Singapore’s public schools through the government’s SwimSafer program.
The registration statement relating to the offering was declared effective by the Securities and Exchange Commission on September 3, 2025.
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