Applied Nutrition, a sports health brand based in Liverpool and backed by JD Sports, has announced plans to go public with an initial public offering (IPO) on the London Stock Exchange. This move is expected to provide a much-needed boost to the UK markets.
The company, known for producing a variety of supplements including protein products, revealed that it is looking to launch its shares on the London stock market. Reports suggest that the potential valuation of the firm could be around £500 million once listed.
Applied Nutrition, which has been in operation for a decade, currently distributes its products to various businesses such as retailers, grocers, gyms, and sports clubs. Its customer base ranges from professional athletes to individuals seeking to manage their weight.
Founder and chief executive, Thomas Ryder, highlighted the company’s pride in maintaining a significant portion of its manufacturing and product development activities in Knowsley, Liverpool. By keeping these operations in-house, Applied Nutrition aims to innovate swiftly and efficiently introduce new products to the market.
The decision to pursue an IPO follows the company’s strong financial performance, with a reported pre-tax profit of £24 million for the year ending July, up from £18 million the previous year. If the IPO proceeds, shares will be available for purchase by institutional investors and retail investors in the UK.
The IPO comes at a crucial time for the London stock markets, which have experienced a lack of IPO activity recently, alongside some UK-listed companies being acquired by foreign markets. One notable IPO earlier this year was from the computer firm Raspberry Pi, which was valued at approximately £540 million.
This move by Applied Nutrition signals an exciting opportunity for the company to expand its presence in the global market and further solidify its position as a prominent player in the sports nutrition industry.