Singapore swim school Fitness Champs splashes into Nasdaq with US$15 million IPO

[SINGAPORE] As a former competitive swimmer waiting to enter university, Joyce Lee started freelancing as a swim instructor in 1999 to help support her family in the wake of the 1997 Asian financial crisis.

Now, the founder of Singapore-based swim school Fitness Champs is raising US$15 million in an initial public offering (IPO) on the Nasdaq, and looking to expand beyond the Republic.

Fitness Champs is offering a total of 3.75 million shares – two million by the company and 1.75 million by selling shares – to the public at US$4 apiece.