According to information obtained by News, Liverpool-based Applied Nutrition will make an announcement on Monday morning indicating its anticipated intention to float, clearing the way for one of the City’s most notable floats of 2024.
According to sources close to the company, RetailBook will handle a retail offering for private investors, allowing them to purchase millions of pounds’ worth of stock at the IPO price.
Applied Nutrition’s shares will be eligible to trade before the Budget in late October, when chancellor Rachel Reeves is expected to significantly increase capital, thanks to the release of its EITF paperwork.
According to a recent story in The News, the company’s float date was pushed up to allow current shareholders, such as founder and CEO Thomas Ryder, to sell off a portion of their holdings without paying higher levels of capital gains tax.
Prominent businessmen have previously made pre-IPO investments in Applied Nutrition, including Peter Cowgill, the former CEO of JD Sports Fashion, who approved the company’s acquisition of a sizable portion of its firm.
