Edgard Corona: The Mastermind Behind Smart Fit

 Edgard Corona, the savvy entrepreneur and mastermind behind
the renowned fitness empire Smart Fit, has recently witnessed an incredible
surge in his fortune. With Smart Fit’s shares soaring 35% on the stock market
and the company’s recent IPO garnering a staggering R$2.3 billion, Corona’s
financial success has reached new heights. 

As the CEO and majority shareholder of Smart Fit , Corona’s
wealth has skyrocketed to an estimated R$1.6 billion, according to Forbes.
While the IPO diluted his ownership to 9.07%, Corona remains the majority
stakeholder, with over 51 million ordinary shares in the company. Before the
IPO, his stake stood at 11%. 

Smart Fit’s highly successful initial public offering
surpassed market expectations, with shares priced above the midpoint of the
indicative price range of R$22.50. The demand for Smart Fit’s shares was an
astounding 20 times higher than the volume offered. Notable financial
institutions
 involved in the coordination of the IPO were Itaú BBA, Morgan
Stanley, Santander Brasil, BTG Pactual, and ABC Brasil. 

This significant financial milestone aligns with Smart Fit’s
long-standing plans for an IPO. As early as December 2018, the company
expressed its intention to list on the Novo Mercado, the segment with the
strictest corporate governance rules on the B3 exchange. The decision to
postpone the IPO until now was based on the company’s expectations of achieving
a better  valuation in the future. 

The billions raised from the IPO will play a vital role in
financing Smart Fit’s organic growth as well as potential acquisitions, as
stated in the company’s communication to the Brazilian Secur ities and Exchange
Commission (CVM). 

Edgard Corona’s journey as the visionary owner of Smart Fit
has catapulted him to the pinnacle of success in the competitive fitness
industry. With unwavering determination and strategic decision-making, he has
not only turned Smart Fit into a fitness empire but also secured his position
among Brazil’s most prominent billionaires

As Smart Fit continues its expansion and reshapes the
fitness landscape, Edgard Corona’s legacy within the industry is bound to leave
an indelible mark, inspiring futur e entrepreneurs to carve their paths to
success. 

In the rapidly evolving fitness market, Edgard Corona has
proven himself a force to be reckoned with and a true inspiration for those who
aspire to emulate his remarkable achievements.