Announcement of Pricing and Offer Size
No summary for this filing – the full text is below.
Select text to share a quote on X · sign in to keep highlights & notes in your APN notes
This announcement is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Canada, Japan, the Republic of South Africa, Australia or any jurisdiction where to do so would constitute a violation of the relevant laws in that jurisdiction or which would require any registration or licensing within that jurisdiction.
Applied Nutrition plc
Announcement of Pricing and Offer Size
Following the Announcement of Price Range on 15 October 2024 for its initial public offering, Applied Nutrition today announces the successful pricing of its initial public offering at 140 pence per Share (the "Offer Price").
Based on the Offer Price, Applied Nutrition's market capitalisation will be approximately £350 million at the commencement of conditional dealings on the main market for listed securities of London Stock Exchange plc.
Thomas Ryder, CEO of Applied Nutrition, said:
"As a homegrown UK business based in Knowsley, Liverpool, we could not be prouder to be listing on the London Stock Exchange. We are delighted with the support shown by investors during our roadshow, and the top-quality shareholder register that we have secured. As we reach this important milestone in our journey, I would like to thank our employees for their continuing hard work and dedication.
"We are only scratching the surface of our growth opportunity and 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 & wellness brand."
Offer highlights:
| · | The Offer Price has been set at 140 pence per Share, equating to a market capitalisation of approximately £350 million at the commencement of conditional dealings. |
| · | The Offer comprises 112,500,000 existing Shares being sold by certain existing shareholders of the Company. |
| · | This equates to a total offer size of £157.5 million and represents approximately 45% of the Company's issued share capital on Admission. |
| · | Immediately following Admission, the Company's issued share capital will be 250,000,000 Shares. |
| · | The Offer included an intermediaries offer, using Retail Book Limited for distribution to retail investors in the United Kingdom (the "RetailBook Intermediaries Offer"). Of the 112,500,000 Shares sold in the Offer, 15,802,938 Shares will be sold to intermediaries through the RetailBook Intermediaries Offer, raising approximately £22 million. |
| · | The Cornerstone Investors have subscribed for 17,857,141 Shares, of which 9,999,999 Shares were included in the institutional offer and 7,857,142 Shares included in the RetailBook Intermediaries Offer. |
| Admission and Dealings | |
| · | Commencement of conditional dealings in the Shares on the London Stock Exchange is expected to take place at 8:00 a.m. on 24 October 2024 under the ticker APN (ISIN: GB00BPVDXX64). Investors should note that only those who applied for and were allocated Shares in the Offer will be able to deal in the Shares on a conditional basis. |
| · | Admission of the Shares to the equity shares (commercial companies) category of the official list of the FCA and to trading on the main market for listed securities of London Stock Exchange plc, and the commencement of unconditional dealings in the Shares on the London Stock Exchange is expected to take place at 8.00 a.m. on 29 October 2024. |
| · | The pricing statement related to the Offer will be published later today on the Company's website at http://appliednutritionplc.com/ . |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.