Global boutique fitness giant, Xponential Fitness, has finally confirmed its plans for an initial public offering (IPO).

The group will list on the New York Stock Exchange, although the number of shares to be offered and the price range for the proposed offering have not yet been determined.

BofA Securities, Jefferies and Morgan Stanley are acting as joint lead bookrunners for the proposed offering, with Guggenheim Securities, Citigroup and Piper Sandler as bookrunners.

Xponential is backed by entrepreneur and CEO Anthony Geisler and Snapdragon Capital Partners.

The move comes after months of speculation that Xponential was considering a listing.

The group was first linked to a potential launch onto the stock market in January 2020, but disruptions caused by the pandemic were believed to have put a stop to any plans for a listing.

Xponential has grown rapidly in recent years.

In March the group acquired boxing studio operator Rumble, adding it to its portfolio of franchised fitness brands.

As well as Rumble, the portfolio now includes Pure Barre, Club Pilates, CycleBar, YogaSix, StretchLab, Row House, AKT, and STRIDE.

The group opened 394 new locations in 2019 and another 240 during the pandemic-hit 2020.

It recently launched five of its brands in the emerging Saudi Arabian market, including Club Pilates, Pure Barre, AKT, YogaSix, and CycleBar.