JD Sports-backed supplements maker Applied Nutrition plans London IPO

Liverpool-based sports health brand Applied Nutrition has said it is planning to float on the London Stock Exchange, delivering a potential boost to the UK's languishing markets.

The company, which is backed by sportswear giant JD Sports , said it was considering an initial public offering (IPO) which would launch its shares on the London stock market.

A potential listing has been estimated to value the firm at around £500 million, according to reports.

Applied Nutrition, which makes protein and other supplements, said its products are sold in countries around the world but that it wants to grow further.

The decade-old business mainly operates by selling its products to other businesses, including retailers, grocers, gyms and sports clubs, targeting consumers from professional athletes to people wanting to lose weight.

JD Sports acquired 32% of the group's shares in 2021 from founder and chief executive Thomas Ryder.

"We are only scratching the surface of our growth opportunity and this IPO positions us ideally for the next step of our development," Mr Ryder said.

"I am incredibly proud that a large proportion of our manufacturing and new product development is based in Knowsley, Liverpool .

"Keeping manufacturing and new product development in-house means we can innovate faster and bring new products to market efficiently."

The announcement came as it reported a pre-tax profit of £24 million for the year to the end of July, compared with £18 million the prior year.

An IPO would see it shares sold to institutional investors as well as retail investors in the UK.

It would also come at an important time for London stock markets which have grappled with a dearth of IPO activity, as well as a number of UK-listed firms being bought out or defecting to markets abroad.

A hotly-anticipated flotation from computer firm Raspberry Pi earlier this year helped lift sentiment, and saw the firm valued at around £540 million.