Wall Street closes at a record for the first time since end of January
LONDON - JD Sports Fashion plc announced today its intention to sell approximately 11 million ordinary shares in Applied Nutrition plc through an accelerated bookbuild to institutional investors.
The selling shareholder currently holds 22,750,000 shares in Applied Nutrition, representing approximately 9.1% of the company’s issued share capital. The sale and pricing of the shares will be determined through the bookbuild process, which launched immediately following the announcement.
Peel Hunt LLP has been appointed as sole bookrunner for the placing. The timing for closing the bookbuild and distribution of allocations remains at the discretion of the bookrunner, according to the press release statement.
JD Sports has agreed to a 90-day lock-up period following settlement of the placing, during which it will not sell or dispose of its remaining ordinary shares in Applied Nutrition, subject to certain customary exceptions and potential waiver by the bookrunner.
Applied Nutrition is not party to the transaction and will not receive any proceeds from the placing.
The completion of the placing is subject to demand, price and prevailing market conditions. The results will be announced following the close of the bookbuild process.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.