(Bloomberg) -- Applied Nutrition, a sports nutrition, health and wellness company, is preparing for an initial public offering in London in the fourth quarter of this year.
The Liverpool, UK-based company, which counts JD Sports Fashion Plc among its backers, is actively readying itself for a first-time share sale on the main market of the London Stock Exchange, according to a statement Tuesday.
“We believe London is an exceptional home for growth companies and if everything falls into place, we hope to deliver another successful IPO to the London market,” Chief Executive Officer Thomas Ryder said in the statement.
“Nothing is certain in this climate but meetings with investors have so far been positive and we’re delighted by the enthusiasm shown for our story,” Ryder said.
Applied Nutrition reported £86 million ($114 million) in sales for the year ending July 31, a 42% increase from the same period in the previous year, the statement showed. It had £26 million of adjusted earnings before interest, taxes, depreciation and amortization during the period, 41% above the previous year.
An IPO would bolster London’s meager crop of first-time share sales. Just eight companies have raised $774 million via UK IPOs in the year to date, nearly 23% below the total in the same period last year, data compiled by Bloomberg show.
Applied Nutrition’s products are available in more than 80 countries, according to the statement. The company appointed a new US CEO, Aaron Heidebreicht, in 2024, and doubled its production capacity heading into the next financial year.
--With assistance from Pablo Mayo Cerqueiro.
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