Smart Fit prices IPO in middle of range Smart Fit prices IPO in middle of range Demand for the Brazilian fitness center chain's shares exceeds 20 times the amount on offer IPOEquityCapital MarketsBrazil Brazilian gym chain Smart Fit said it raised BRL2.3 billion in an initial public offering (IPO) as demand exceeded 20 times the amount of shares on offer, according to a securities filing. Smart Fit priced its debut on the B3 stock exchange in São Paulo at BRL23.00 per share, the middle of the target range of BRL20.00 to BRL25.00 per share that it set last month. The company said it did not price the IPO higher because it wants its shares to perform well ahead of a possible follow-on offering at