Applied Nutrition confirms plans for London float

(Sharecast News) - Britain's Applied Nutrition on Monday confirmed it was planning a London flotation. The company said the retail offer would run alongside a targeted offering aimed at institutional investors in the UK and elsewhere, outside the US.

No financial details were provided other than the company would have a free float of at least 25% of issued share capital and expected that it would be eligible for inclusion in the FTSE UK indices. Media reports over the weekend suggested the float could be worth £500m.



Applied Nutrition is a sports nutrition, health and wellness brand that formulates and creates related products. It made revenues of £86.2 in the year ended to end July. Adjusted core earnings hit £26m compared with £18.5m a year earlier.

"A float on the London Stock Exchange would mark the next step in Applied Nutrition's journey to becoming the world's most trusted and innovative sports nutrition, health & wellness brand," said Andy Bell, non-executive chair of Applied Nutrition, who, also founded the AJ Bell financial services platform.

"The company has delivered impressive growth to date, driven by the increasing consumer interest in health and wellness, and the consistent delivery of new products to Applied Nutrition's global customer base."

Reporting by Frank Prenesti for Sharecast.com