JD Sports-based Applied Nutrition set for London debut this month

(Alliance News) - Applied Nutrition PLC on Monday confirmed its plan for an initial public offering on the London Main Market later this month.

The Liverpool-based sports health brand was founded in 2014 by its chief executive, Thomas Ryder. It is backed by FTSE 100-listed JD Sports Fashion PLC, which has a 32% stake.

The company offers sports nutrition products for a range of users, from professional athletes and "elite gym-goers" to "every-day health-conscious consumers". Its brands include 'Applied Nutrition', 'BodyFuel' and 'Endurance'.

Applied Nutrition said the IPO will consist only of existing shares. It didn't provide any price expectation, but Sky News last month said an IPO could value Applied Nutrition around GBP500 million.

Applied Nutrition recorded pretax profit of GBP24.4 million on revenue of GBP86.2 million in the financial year that ended July 31.

The start of trading is expected in October, and Applied Nutrition expects to be eligible for inclusion in the FTSE indices.

The IPO will be led by Numis Securities Ltd, trading as Deutsche Numis, as sole sponsor, global coordinator and bookrunner. It will include a retail offer.

By Emily Parsons, Alliance News reporter

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