Applied Nutrition floats with £350m valuation

Sports health business Applied Nutrition - which is backed by JD Sports - said on Thursday that it has been valued at around £350m in its stock market debut.

The figure is near the lower end of its guided range, with the company pricing its initial public offering at 140p per share. It had been aiming for a range of between 136p and 160p.

Chief executive Thomas Ryder said: "As a homegrown UK business based in Knowsley, Liverpool, we could not be prouder to be listing on the London Stock Exchange. We are delighted with the support shown by investors during our roadshow, and the top-quality shareholder register that we have secured. As we reach this important milestone in our journey, I would like to thank our employees for their continuing hard work and dedication.

"We are only scratching the surface of our growth opportunity and this IPO positions us ideally for the next step of our development. We are confident it will assist in our vision to create the world's most trusted and innovative sports nutrition, health & wellness brand."