JD Sports sells Applied Nutrition stake for £49m via placing.
UK sportswear retailer JD Sports Fashion has sold its entire 9.1% stake in Applied Nutrition for £49m.
Source: Sharecast
JD Sports sold 22.75 million shares of Applied Nutrition at £2.15 each through a secondary share placing, representing a roughly 5% discount to the stock's closing price on Wednesday.
The retailer was the second-biggest shareholder in Applied Nutrition with 9.1%, which is an accessible sports nutrition brand selling products such as protein powders and shakes, performance supplements, vitamins, energy drinks and weight‑management products.
Applied Nutrition received no funds from the placing.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.