JD Sports-backed supplement maker mulls £1bn London float

A sports supplement manufacturer part-owned by JD Sports Fashion is plotting a £1bn float on London’s Stock Exchange – a move that would be a significant boost for the City’s capital markets.

Sky News reported that Liverpool-based Applied Nutrition has interviewed a number of investment bankers in the last few weeks to discuss a listing, which would take place in the autumn.

The report said that Deutsche Numis could play a role in the float, which would be the biggest in the UK this year. One source told Sky News no firm decision had been taken on whether to continue with the IPO plans.

Founded in 2014, Applied Nutrition makes supplements for professional athletes and gym-goers as well as selling other sports products.

The company reported a 74 per cent revenue rise last year to £61.2m, with earnings increasing to around £18.1m.

JD Sports owns nearly a third of the company while its founder Thomas Ryder has a majority stake.

According to Sky News, a £1bn valuation would see Ryder become one of the UK’s richest men.

Applied Nutrition and JD Sports Fashion were approached for comment.

The news comes amid a difficult period for London’s capital markets.

Flutter, the gambling giant, completed a secondary listing in New York last year, which many believe is the precursor to a full relocation. YouGov and Plus500, two staples of the London market, have also publicly considered ditching London for the Big Apple.

Travel firm TUI also recently disclosed that it is considering delisting from the London Stock Exchange as it focuses on the German market.