Kirkland & Ellis advised Sport Clubs Company on its initial public offering on the Main Market of the Saudi Exchange. The offering, backed by private equity funds, comprised 34,320,000 shares, representing 30% of the share capital of Sport Clubs, including 10,400,000 newly issued shares and 23,920,000 existing shares sold by pre-IPO shareholders. Sport Clubs began trading on July 22, 2025, under the symbol “6018.”
Sport Clubs was established in 1994 and has grown to become one of the leaders in the sports and fitness sector in Saudi Arabia, with operations across 18 cities nationwide. Despite recent market volatility, the IPO attracted strong demand. The institutional tranche was covered 44.1 times, while the retail tranche was 5.3 times oversubscribed. On the first day of trading, the shares closed at SAR 9.30, representing a 24% increase over the listing price.
The Kirkland team included capital markets lawyers Manal Al-Musharaf, Nawaaf Alawwad, Emad Almazyad and Cyril Chamoun.
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