Shares in Applied Nutrition plc have dropped around 5.5% in trading today (writing at 3.15pm) after JD Sports Fashion plc said it is selling its holding.
The Liverpool firm, founded by fitness enthusiast Thomas Ryder (pictured) in 2014, recently reported record half-year results 18 months after it floated in London.
Wayne Rooney’s wife Coleen recently increased her shareholding in the sports nutrition, health and wellness brand – but JD is now divesting its stock as part of a secondary share sale.
Selling at a price of £2.15 per placing share – which in aggregate represent 9.1% of the company’s issued share capital – gross proceeds from the placing will amount to approximately £49 million.
“The company is not party to the placing and will not receive any proceeds from the placing,” Applied Nutrition stated.
Applied Nutrition’s shares are valued at 214 pence, with a market cap of around £535m. The current share price is down 16% in the year to date but up 95% in the last year and 59% on its IPO price.
The firm recently secured planning permission from Knowsley Council for a new 84,000 sq ft global distribution centre and corporate headquarters. This will take its total operational footprint to over 204,000 sq ft and increase revenue capability to £300m.