Gym chain Virgin Active picks Johannesburg Stock Exchange over London bourse for £1.5B IPO

Virgin Active has 114 sites in South Africa and 101 sites in the UK.

Gym chain Virgin Active is looking for investment bankers to run the likely £1.5B flotation of its shares on the Johannesburg Stock Exchange over the coming months.

A South African sale would be a loss to London, as the brand has a strong presence in the UK.

The group traditionally had more sites in the UK than in South Africa, but over the past year the situation has reversed – the number in the UK has fallen to 101, compared to 114 in South Africa.

Read more: Virgin Active IPO: London misses out as gym chain plans South Africa float | City A.M..