The Gym Group has floated on the London Stock exchange as part of an expansion plan that will see them open up to 20 new sites in 2016.
The company has priced its flotation at 195p a share, giving it a market capitalisation of around £250m.
The flotation is expected to raise £90m for its expansion plans.
At present the company has 67 sites in operation with a further seven due to open before the end of the year. Of the existing sites, about 40% are within the M25 area.
In total it has 10 sites fully exchanged with another 13 in the legal process ahead of exchange.
