Applied Nutrition Makes Splash on London Stock Exchange with £350M IPO
In a significant boost to London’s struggling IPO market, Applied Nutrition, the Liverpool-based sports nutrition powerhouse, has successfully launched its initial public offering (IPO) with a market capitalization of £350 million.
The listing marks a crucial moment for both the company and the London Stock Exchange, which has seen its lowest number of listings in nearly three decades.
A Strategic Pricing Decision
The company set its offer price at 140 pence per share, positioning itself at the lower end of its previously announced range of 136 to 160 pence. Despite choosing a conservative pricing strategy, the market responded positively, with shares opening 7% higher on their trading debut, pushing the company’s valuation to £375 million.
From Scaffolding to Stock Exchange
The IPO represents a remarkable journey for Thomas Ryder, the company’s founder and CEO, who started Applied Nutrition in 2014. A former scaffolder turned entrepreneur, Ryder has transformed his vision into one of the UK’s leading sports nutrition brands, developing four distinct product ranges:
- Applied Nutrition
- ABE
- BodyFuel
- Endurance
Notable support and backing
The IPO has attracted significant attention from prominent figures and institutions.
- Mohsin Issa, Asda’s co-owner, joined as a cornerstone investor.
- JD Sports Fashion acquired a 32% stake in 2021.
- Coleen Rooney, a TV personality, has announced her involvement as an investor.
- Tony Buffin, the former chief of Holland & Barrett, has been appointed as a non-executive board member.
- Andy Bell, AJ Bell founder, joined as non-executive chair.
Market Impact and Future Prospects
The successful listing of Applied Nutrition brings a much-needed boost to London’s financial markets. As only the tenth company to float in London this year, it represents a positive signal for the UK’s capital markets, which have faced challenges with declining listings and company departures.
At the listing ceremony, Thomas Ryder stated, “We are just beginning to explore our growth potential.” “This IPO positions us ideally for the next step of our development. We are confident it will assist in our vision to create the world’s most trusted and innovative sports nutrition, health, and wellness brand.”
Professional Support
A strong team of financial and legal advisors supported the IPO process.
- Deutsche Numis served as global coordinator, sponsor, and bookrunner.
- Addleshaw Goddard (AG) provided legal counsel to Applied Nutrition.
- Pinsent Masons advised Deutsche Numis.
Looking Ahead
The successful IPO raises £157.5 million from the offering, providing Applied Nutrition with significant resources to pursue its growth strategy. The company’s strong market debut, despite choosing a conservative pricing approach, suggests investor confidence in its business model and growth prospects.
For the London Stock Exchange, Applied Nutrition’s listing offers hope for a revival in the IPO market, which saw only 23 listings in 2023. The successful debut of a homegrown British business could encourage other companies considering public listings in London.
The company will begin unconditional trading next Tuesday, marking the start of its journey as a publicly traded entity. With its strong brand portfolio, established market presence, and newly acquired capital, Applied Nutrition appears well-positioned to pursue its ambitious growth plans in the competitive sports nutrition market.
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