Applied Nutrition PLC has confirmed its intention to float on the London Stock Exchange later this month, though it has still not said how much new cash it aims to raise.
Following notification of its plans late last month, the sports nutrition brand, in which retailer JD Sports Fashion PLC owns a stake of around 32%, said its shares will be listed in the commercial companies category on the main market of the LSE, making it eligible for inclusion in the FTSE indices.
As well as funds raised from institutional investors, there will also be a retail offer for small investors using the RetailBook platform set up by Peel Hunt, Numis and Jefferies, Hargreaves Lansdown and Rothschild.
Applied Nutritions's existing shareholders will set at least a quarter of their shares, giving a target for a free float of at least 25%.
Deutsche Numis is the sole sponsor and bookrunner for the initial public offer.