Liverpool-based Applied Nutrition is preparing for a significant IPO on the London Stock Exchange, aiming to raise up to £220m.
- The IPO price range is set between 136p and 160p per share, with up to 137.4 million shares available from existing shareholders.
- The IPO is expected to value the company between £340m and £400m, underscoring its market strength.
- Among its supporters are four notable North West entrepreneurs, pledging £25m as cornerstone investors.
- This move is timely as the London Stock Exchange sees a decline in new listings, offering a potential boost.
Liverpool-based Applied Nutrition is embarking on a substantial initial public offering (IPO) on the London Stock Exchange, setting its sights on raising as much as £220 million. The sports health brand’s IPO, notable for potentially being one of the largest in London this year, arrives at a crucial time given the market’s current challenges.
The company has outlined an IPO price range between 136 pence and 160 pence per share, with plans to release up to 137.4 million shares currently held by certain existing shareholders. This strategic move aims to harness investor interest at a time when London listings are scarce.
By launching this IPO, Applied Nutrition anticipates achieving a market capitalization valued between £340 million and £400 million, a testament to its established presence and projected growth potential in the market.
The endeavor is backed by four prominent North West entrepreneurs, including Mohsin Issa, a co-founder of the EG Group. Collectively, they have committed £25 million as cornerstone investors, highlighting the confidence in Applied Nutrition’s business model and future prospects.
JD Sports Fashion, which acquired a 32% stake in 2021, supports the company as it prepares to solidify its standing in the market. The IPO is timed to provide a positive momentum shift for the London Stock Exchange, which has faced a stark decline in new listings. So far, the year has witnessed merely nine firms going public, signaling a challenging environment for new capital market entries.
The Applied Nutrition IPO represents a strategic move to invigorate London’s financial market while showcasing the company’s growth potential.
