LONDON - Applied Nutrition plc has set the price for its initial public offering (IPO) at 140 pence per share, with the company's market capitalization expected to be around £350 million as it begins conditional trading on the London Stock Exchange today. The pricing values the company at a significant market capitalization as it takes its first step into the public market.
The offering includes 112.5 million shares, representing approximately 45% of the company's issued share capital upon admission. This equates to an offer size of £157.5 million. The shares are being sold by certain existing shareholders, and the company's total issued share capital post-admission will stand at 250 million shares.
In a statement, CEO Thomas Ryder expressed pride in the company's UK roots and gratitude towards employees for their dedication. Ryder also highlighted the IPO as a key milestone and an opportunity for growth, aiming to establish Applied Nutrition as a trusted name in sports nutrition, health, and wellness.
The offer also featured an intermediaries offer, managed by Retail Book Limited, which allocated approximately £22 million worth of shares to retail investors in the UK. Cornerstone Investors have subscribed for 17,857,141 shares, split between the institutional offer and the RetailBook Intermediaries Offer.
Conditional dealings on the London Stock Exchange under the ticker APN (ISIN: GB00BPVDXX64) are commencing today, with only those allocated shares in the offer able to trade. Full admission and the start of unconditional dealings are expected on October 29, 2024.
This financial event is based on a press release statement, and further details can be found on Applied Nutrition's official website. The company's journey to the public market has been keenly observed by investors, as it reflects the growing interest and investment potential within the health and wellness sector.
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