Shares of Fitness Champs Holdings Limited (NASDAQ: FCHL), a leading aquatic sports education provider in Singapore, are soaring 7% in their debut trading session on Thursday. The surge follows the company's announcement of its initial public offering (IPO) pricing at $4 per share, marking a strong start for the newly listed stock.

Fitness Champs priced its IPO of 3.75 million ordinary shares, with 2 million shares offered by the company and 1.75 million by selling shareholders. The company expects to receive gross proceeds of $8 million from the offering. Fitness Champs plans to use the net proceeds to strengthen its coaching team, enhance marketing and branding efforts, pursue business development opportunities, and explore potential strategic acquisitions. Additionally, funds will be allocated for loan repayment and general working capital purposes.

Established in 2012, Fitness Champs Holdings Limited has positioned itself as a distinguished aquatic sports education provider in Singapore. The company offers a range of services, including general swimming lessons for children and adults, as well as specialized classes in water polo, competitive swimming, and lifesaving. Notably, Fitness Champs is one of the largest providers of swimming lessons to children enrolled in public schools under Singapore's Ministry of Education through the SwimSafer program. This successful IPO and strong market debut suggest investor confidence in the company's growth prospects within the aquatic sports education sector.