JD Sports-backed Applied Nutrition preparing for £1bn London float - report
Applied Nutrition, a manufacturer of sports supplements part-owned by JD Sports Fashion, is reportedly beginning preparations for a £1bn London flotation.
According to Sky News, Liverpool-based Applied Nutrition has been interviewing investment bankers in recent weeks about a listing that could take place in the autumn.
City sources told Sky at the weekend that Deutsche Numis was among those in contention for a role on the float, which could rank among the largest in the UK this year.
One person close to the situation cautioned that no firm decision had been taken to press ahead with an initial public offering.
Founded in 2014, Applied Nutrition formulates and makes premium nutrition supplements for professional athletes and gym enthusiasts.
It is the official nutrition partner of a range of English Football League clubs, including League One's Bolton Wanderers, and the Scottish Premiership side Glasgow Rangers.
JD Sports owns just under a third of the shares, while Applied Nutrition's founder, Thomas Ryder, holds a majority stake. Sky said the remaining shares are understood to be owned by Steven Granite, the company's chief operating officer.
Important Legal Notice about News Sources: Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news and we may not share the views of the author or publisher. We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.
The value of investments can fall and you may get back less than you invested.