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Windfall: Applied Nutrition Founder Thomas Ryder
Shares in the protein drink maker created by a Liverpool scaffolder and backed by Wayne and Coleen Rooney jumped in their stock market debut yesterday.
In a big boost for the City after a dearth of listings, Applied Nutrition went public in London with its shares priced at 140p each, giving it a value of £350m.
The stock jumped 7 per cent in early trading to 150p, valuing the company at £375m, before ending the day at 143.5p.
Founder Thomas Ryder, who grew up on a council estate and left school at 16, sold £68.25m worth of shares on the stock market and retains a 34% stake worth £122m last night.
The so-called initial public offering (IPO) was one of the most important in London this year and provided a boost amid the scarcity of this type of listings.
Raspberry Pi shares have risen 28 per cent to 359p since the computer maker went public in June, but few other IPOs have captured the imagination.
However, there is hope that the tide is turning. French media giant Canal+, maker of the Paddington Bear films, is seeking a valuation of £6.7bn when it lists in London later this year.
Chinese fast fashion giant Shein is also considering a British IPO valuing it at £50bn.
Applied Nutrition, chaired by AJ Bell founder Andy Bell, attracted big-name investors including former Asda boss Mohsin Issa, construction businessman William Ainscough, Home Bargains billionaire Tom Morris and the Liverpool property magnate George Downing, as well as the Rooneys.
The FTSE 100 rose 0.13 per cent, or 10.7, to close at 8,269 after four days of losses. The FTSE 250 fell 0.19 per cent, or 39.4, to 20,791 as investors digested the corporate updates.
Wayne and Coleen Rooney are among the company’s sponsors
London Stock Exchange Group shares rose 2.6 per cent, or 270 pence, to a record 10,655 pence after it posted a better-than-expected 9.5 per cent rise in third-quarter revenue to 2,120 million pounds sterling.
Also rising was Anglo American (up 2.9 percent, or 67 pence, to 2,390.5 pence), as the mining giant maintained its copper and iron ore production estimates even as it cut its production forecast for the division. of De Beers diamonds that it plans to spin off.
Data and events group Relx rose 1%, or 35p, to 3,624p after pledging to boost sales and profits this year. Despite “volatile trading”, home goods store Dunelm posted a 3.5 per cent rise in first quarter sales to £403m. The shares rose 0.5%, or 6p, to 1,199p.
Estate agent Foxtons hailed a rebound in property market activity as it reported a 10 per cent rise in income to £125.9m so far this year.
The shares rose 3.4 per cent, or 2p, to 61.6p. Bunzl fell 1.3 per cent, or 46 pence, to 3,500 pence, even though its latest update (showing a 5.4 per cent rise in third quarter sales) was not enough to help it take advantage of the recent earnings.
Shares in the company, which supplies products such as toilet paper, disposable cups and helmets, have risen 175 per cent in value from their Covid-19 low.
Shares in software company Softcat rose 10 per cent, or 154 pence, to 1,686 pence after it posted a 9.3 per cent rise in annual profits to £154.1 million.
Birkin bag maker Hermes saw third-quarter sales rise 11 percent to £3.1 billion, boosting its shares by 1.1 percent, or 22 euros, to 2,083 euros. Despite rival luxury group and Gucci owner Kering warning of its lowest annual profits in eight years, its shares rose 2 percent or 4.7 euros to 235.6 euros.
Travis Perkins, Britain’s biggest building materials supplier, cut its annual profit outlook for the second time in three months, sending shares down 4.6 per cent or 42 pence to 880 pence.
The FTSE 250 firm said sales fell 5.7 per cent in the third quarter. It now expects a full-year profit of £135m, not £150m as in August.
New boss Pete Redfern, former builder Taylor Wimpey, said: ‘The group has allowed itself to become too distracted and focused internally.
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