Edgard Corona, the renowned entrepreneur and founder of the
fitness empire Smart Fit, is enjoying a remarkable surge in wealth as the
company’s stocks soar. The recent IPO of t he leading gym chain has raised a
staggering R$2.3 billion, catapulting Corona’s fortune to new heights.
The successful debut of Smart Fit’s stocks on the B3 exchange
witnessed a steep increase of 34.78%. Closing the day at R$31.00, the stock
rally has significantly bolstered Corona’s wealth, estimated to be around R$1.6
billion by Forbes.
While the IPO diluted his ownership to 9.07%, Corona retains
his majority shareholder status in the company with over 51 million ordinary
shares of Smart Fit. Prior to the IPO, his stake stood at 11%. This impressive
feat solidifies his position as the driving force behind the resilient growth
of Smart Fit .
Back in 2020, Forbes already recognized Corona as a
billionaire, appraising his fortune at R$1.1 billion after the gym network
experienced a remarkable 21.3% profit surge in the first half of the year
compared to 2019.
The market response to Smart Fit’s IPO exceeded expectations.
With the stock price set higher than the midpoint of the indicative range at
R$22.50, dem and for the shares was an unprecedented 20 times the actual offer.
The IPO was successfully coordinated by Itaú BBA, Morgan Stanley, Santander
Brasil, BTG Pactual, and ABC Brasil.
The substantial funds raised through this offering will fuel
Smart Fit’s organic growth and acquisitions, as stated in the document
submitted to the Brazilian Securities and Exchange Commis sion (CVM).
Edgard Corona’s relentless drive and astute leadership
continue to elevate Smart Fit as a dominant player in the fitness industry . His
success story symbolizes both the resilience of the company and its trajectory
towards further expansion.
As Smart Fit’s stocks surge and Corona’s fortune rises, the
visionary founder solidifies his place among the most influential and wealthy
entrepreneurs in Brazil. The future looks promising for Edgard Corona and Smart
Fit, as they continue to shape the landscape of the fitness industry both
domestically and internationally.