Coleen Rooney-backed Applied Nutrition kicks off float with £350m valuation

Coleen Rooney-backed sports wellness concern Applied Nutrition has kicked disconnected its banal marketplace debut with a valuation of astir £350 million.

The radical priced its archetypal nationalist offering (IPO) astatine 140p a share, which is adjacent the bottommost of the 136p and 160p per stock terms scope unveiled past week.

Ms Rooney – TV property and woman of erstwhile Manchester United and England footballer Wayne Rooney – has already revealed her volition to put successful the firm’s flotation aft becoming a marque ambassador for the radical earlier this year.

The Liverpool-based company, which is besides backed by retailer JD Sports, is issuing 250 cardinal shares nether the IPO, of which 112.5 cardinal were sold by existing shareholders.

The radical began conditional trading of shares connected the London Stock Exchange connected Thursday, with unconditional trading expected to commencement adjacent Tuesday.

Shares lifted to 146.2p each soon aft conditional dealing started.

Thomas Ryder, laminitis and main enforcement of Applied Nutrition, said: “As a homegrown UK concern based successful Knowsley, Liverpool, we could not beryllium prouder to beryllium listing connected the London Stock Exchange.

“We are lone scratching the aboveground of our maturation accidental and this IPO positions america ideally for the adjacent measurement of our development,” helium added.

A fig of salient entrepreneurs from the North West, including Asda co-owner Mohsin Issa, person already committed to put a combined £25 cardinal arsenic cornerstone investors successful the IPO.

On confirming her engagement with the Applied Nutrition float, Mrs Rooney said past week: “I’ve been genuinely impressed by Applied Nutrition’s travel from its roots successful Liverpool to becoming a starring sports nutrition, wellness and wellness brand.

“The Applied communicative is inspiring, and I utilized their products adjacent earlier I was an ambassador.

“That’s wherefore I’ve decided to put successful the institution — I’m excited to beryllium portion of its future.”

The nonstop magnitude of Mrs Rooney’s concern remains undisclosed.

The decade-old concern chiefly operates by selling its products to different businesses, including retailers, grocers, gyms and sports clubs, targeting consumers from nonrecreational athletes to radical wanting to suffer weight.

Its products are sold successful much than 80 countries worldwide.

JD Sports acquired 32% of the group’s shares successful 2021 from Mr Ryder.

Applied Nutrition precocious reported a pre-tax nett of £24 cardinal for the twelvemonth to the extremity of July, compared with £18 cardinal the anterior year.

Underlying net jumped 41% to £26 cardinal successful the twelvemonth to July 31 connected income up 42% to £86.2 million.