Liverpool-based Applied Nutrition is seeking up to £220 million from its planned IPO, marking one of the largest stock market debuts in London this year.
- The company’s IPO is set with a price range of 136p to 160p per share.
- Up to 137.4 million shares are offered by existing shareholders, with market capitalisation estimated between £340 million and £400 million.
- Four prominent North West entrepreneurs, including Mohsin Issa, are investing £25 million as cornerstone investors.
- The IPO is a strategic boost for the London Stock Exchange amidst a drought in new listings.
Liverpool-based sports health brand Applied Nutrition is aiming to raise up to £220 million through its initial public offering (IPO) in London. This move could position it as one of the most significant stock market debuts in the city this year. The company announced this week that the IPO price range has been set from 136p to 160p per share, as detailed by City AM.
The offering includes up to 137.4 million shares that are being sold by existing shareholders. The estimated market capitalisation for Applied Nutrition following the IPO is forecasted to range from £340 million to £400 million. Four eminent entrepreneurs from the North West have committed to invest a combined total of £25 million as cornerstone investors, providing a solid foundation for the offering.
Among the investors is Mohsin Issa, renowned for co-founding the petrol forecourts giant EG Group alongside his brother, Zuber. Their investment underlines confidence in Applied Nutrition’s market potential and growth trajectory.
Founded by Tom Ryder in 2014, who still leads as CEO, Applied Nutrition gained strategic backing when JD Sports Fashion acquired a 32% stake in the company in 2021. This acquisition preceded its market expansion in the United States.
The IPO is seen as a significant morale boost for the London Stock Exchange, which has experienced a downturn in new listings and has been looking to revitalize interest among major companies. Bankers predict a recovery in 2025, bolstered by reforms in listing rules and notable market entries like Raspberry Pi.
In its upcoming market debut, Applied Nutrition is collaborating with Deutsche Numis, which is acting as the sole sponsor, global co-ordinator, and bookrunner.
Amidst a context of diminishing listings, the company’s public offering stands as a beacon of optimism, potentially invigorating the Exchange and inspiring investor confidence.
Applied Nutrition’s strategic IPO decision is set to revitalise interest in London’s stock market.
