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- Gym owner Viva Leisure (VVA) enters trading halt as it plans for an upcoming capital raise
- It isn’t known how much the company is aiming to raise or where the funds will be used but the market should find out by no later than Friday, August 27
- Despite lockdowns impacting gym closures over FY21, Viva increased memberships by nearly 34 per cent, expanded location and doubled its revenue
- The company rounded off the 2021 financial year with $12.94 million in cash
- On the market, Viva last traded at $1.71 per share on August 24
Viva Leisure (VVA) has entered into a trading halt as it plans for an upcoming capital raise.
It is currently unknown how much the company is aiming to raise or where the funds will be spent.
Under the halt, Viva shares will be paused until Friday, August 27, or when more details are released to the market.
Viva operates over 40 health clubs within the Australian Capital Territory, New South Wales, and Victoria with the majority operating under the Club Lime brand.
FY21 was a difficult year for Viva as its facilities across Australia had just two months of being open at the same time.
However, gym memberships bounced back and even increased 33.84 per cent to 126,006 during the year.
Over the period, the company expanded its locations by 45.5 per cent to 115, through 15 acquisitions during the year. Revenue also doubled to $83.72 million, marking a 104.8 per cent increase.
Viva Leisure ended the 2021 financial year with $12.94 million in cash.
On the market, Viva last traded at $1.71 per share on August 24.
