Basic Fit IPO priced at €15 per share gives firm €1 billion valuation

Fitness chain Basic-Fit hit the Amsterdam Euronext stock exchange at 15 euros per share on Friday. This gives Basic Fit a market capitalization of 820 million euros and a so-called business value of 994 million euros, NU.nl reports.

There were 26.7 million shares in the IPO, accounting for 49 percent of the total shares. Basic-Fit will use the proceeds from the IPO to repay debts.

According to NU, a number of current shareholders are also offering their shares for sale. But CEO Rene Moos plans to keep a significant interest in the chain for a long time yet.