LONDON: Applied Nutrition, now a public limited company as of 1 October 2024, has confirmed its plans for an initial public offering (IPO) and provided specific details about the offer.

The company intends to list its shares in the equity shares (commercial companies) category of the official list of the Financial Conduct Authority (FCA) and to trade on the main market of the London Stock Exchange. This admission is expected to occur in October 2024.

Applied Nutrition expects its shares to be admitted to the equity shares category of the FCA’s official list and to trade on the main market for listed securities of the London Stock Exchange. The offer will include existing shares sold by certain current shareholders. The offer will target institutional investors in the UK and internationally, excluding the United States, under Regulation S of the U.S. Securities Act of 1933. In the U.S., it will be available to “qualified institutional buyers” as defined in Rule 144A under the Securities Act. The offer will also be available to retail investors in the UK through intermediaries using Retail Book Limited.

Post-admission, Applied Nutrition aims for a free float of at least 25% of its issued share capital, making it eligible for inclusion in the FTSE UK indices. Additional offer details and any changes to corporate governance will be disclosed in a prospectus, if published. Numis Securities Limited, trading as Deutsche Numis, will act as the sole sponsor, global coordinator, and bookrunner for the IPO.

This move marks a significant step for Applied Nutrition as it seeks to expand its market presence and attract a broader investor base.

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