Applied Nutrition is aiming for an IPO in London

The British sports nutrition supplements manufacturer, Applied Nutrition, has confirmed its intention to be listed on the London Stock Exchange later this month. This follows an initial announcement in September. The Liverpool-based company, which produces protein powders, energy drinks, and sports apparel among other products, plans to make at least 25% of its issued share capital freely tradable, although it has not disclosed details on the size of the offering. Susannah Streeter, Head of Money and Markets at Hargreaves Lansdown, commented that the upcoming IPO of Applied Nutrition would give a further boost to the London Stock Exchange and highlight the growing interest of companies in getting listed. According to reports, the company will be valued at an estimated 500 million pounds ($654.35 million) in the planned initial public offering. This year, there have been only nine IPOs in the United Kingdom, while during the same period in 2023, a total of 18 companies made the leap to the stock market. In the ranking of IPOs in Europe, the Middle East, and Africa, the United Kingdom currently ranks only tenth. JD Sports, a British sportswear retailer, had already acquired a 32% stake in Applied Nutrition in 2021, while the founder and CEO Thomas Ryder continues to hold the majority stake in the company.