Fitness First beefing up Asian presence

UK GYM-chain operator Fitness First intends to grow its Asian footprint by pumping an estimated US$142 million into the region, with a particular focus on Singapore and Thailand.

As Fitness First has secured sufficient funding for expansion, it will not be launching an initial public offering (IPO). In 2011, it shelved a proposed IPO in Singapore reportedly because of market volatility.

Of the estimated US$142 million investment, the bulk of it (US$100 million) will be used for its five-year expansion programme.