15th Oct 2024 09:15
(Alliance News) - Applied Nutrition PLC on Tuesday announced its set price range being targeted for its planned initial public offering 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 its price range for the offer has been set at 136 to 160 pence, targeting an estimated market capitalisation at admission between GBP340 million and GBP400 million.
The company expects its initial public offering to occur this month.
The offer comprises up to 137.4 million existing shares.
By Tom Budszus, Alliance News slot editor
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