WEBVTT - Applied Nutrition CEO Says He Only Considered London for the IPO

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<v Speaker 1>Well, we want to focus next on an IPO happening

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<v Speaker 1>in London today and for that we're joined Buyer Breaking

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<v Speaker 1>News editor and editor of the London Russian newsletter, Louise Noon,

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<v Speaker 1>Louise good morning.

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<v Speaker 2>Good morning, Stephen So. Applied Nutrition, the maker of protein

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<v Speaker 2>powders and supplements, has raised over one hundred and fifty

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<v Speaker 2>seven million pounds in its IPO in London this morning.

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<v Speaker 2>Shares a price at one hundred and forty pence, which

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<v Speaker 2>was towards the low end of the range before they

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<v Speaker 2>jumped at open touching one hundred and fifty pence. Now

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<v Speaker 2>it's notable because it's one of the very few IPOs

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<v Speaker 2>that's happening in London at the moment. So to talk

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<v Speaker 2>about it further, we're joined now by Thomas Ryder, the

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<v Speaker 2>founder and CEO of Applied Nutrition. Thomas, good morning. Just

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<v Speaker 2>want to start off with a question to ask why

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<v Speaker 2>are you happy with this price this morning and were

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<v Speaker 2>you disappointed that you weren't able to list at a

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<v Speaker 2>slightly higher price.

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<v Speaker 3>Now, we're absolutely delighted with the place that we have.

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<v Speaker 4>We're absolutely delighted with the register of investors that we have,

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<v Speaker 4>so honestly we couldn't ask that much more.

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<v Speaker 1>Talk to us about the decision to list and list

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<v Speaker 1>in London. You know that there's many other companies that

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<v Speaker 1>have chosen to go elsewhere for us, Was this a

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<v Speaker 1>good time to list in London?

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<v Speaker 3>For you? You know?

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<v Speaker 4>I think fit Firstly, I think we chose the list

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<v Speaker 4>because we just feel that we're on that we're at

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<v Speaker 4>that point within our journey now of becoming the world's

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<v Speaker 4>most trusted and innovative sports nutition brands, and we just

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<v Speaker 4>felt that list and now would catapults us into a

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<v Speaker 4>new league, offering us global credibility and global recognition. As

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<v Speaker 4>we're an export company, we're trading over eighty countries. We

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<v Speaker 4>just felt that was the right move forward us right now.

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<v Speaker 4>But when we explored the option, yeah, we aid some

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<v Speaker 4>negativity around what markets to go on and LC, but

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<v Speaker 4>for us were the UK brands.

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<v Speaker 3>We're proud to be a UK brands.

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<v Speaker 4>We're flying the flag for UK sports nutition brands globally

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<v Speaker 4>and it would only ever be the London Stock Exchange.

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<v Speaker 4>We would never consider anywhere else. We are we are,

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<v Speaker 4>We're a proud UK company and we want to be

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<v Speaker 4>on the LC.

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<v Speaker 2>So you noted that that negativity in some of your

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<v Speaker 2>discussions before. Why do you think that London really does

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<v Speaker 2>struggle struggle to attract these new listings. There's been a

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<v Speaker 2>few reforms that have have been implemented more recently. Do

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<v Speaker 2>you think those have worked? What do you think needs

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<v Speaker 2>to change? What are the key problems?

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<v Speaker 3>You know?

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<v Speaker 4>You know, since we started this process and we went

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<v Speaker 4>on the road and we're speaking to investors, we've seen

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<v Speaker 4>not on BOD excitement. We've been seen not on BOD

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<v Speaker 4>encouragement and people are really embracing our company with their

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<v Speaker 4>arms open. We're absolutely humble, so we could ask for more.

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<v Speaker 4>We've not seen anything for excitement here.

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<v Speaker 1>I wonder if you're thinking as well about the budget

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<v Speaker 1>due next week. Lots of talk about what taxes might

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<v Speaker 1>be raised on businesses as well. Were you conscious of

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<v Speaker 1>that timing when you chose to list this week?

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<v Speaker 4>Now, we always plan to list in Q four. It's

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<v Speaker 4>just that the data felt nicely for us. Well, yeah,

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<v Speaker 4>it's it's always been within our plan.

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<v Speaker 2>So Thomas, I have to ask, so this You created

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<v Speaker 2>this business roughly ten years ago, and from what I understand,

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<v Speaker 2>you were a scaffolder before you started selling protein powders

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<v Speaker 2>and these happens as a kind of side hustle. Did

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<v Speaker 2>you ever think that this will happened?

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<v Speaker 3>Was this your plan?

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<v Speaker 2>Did you ever think you'd get to an IPA?

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<v Speaker 4>You know if the bats me ten years ago, No,

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<v Speaker 4>we could never have done that. We'll be here today,

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<v Speaker 4>IPO and the company. It's like it is literally a

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<v Speaker 4>dream come true. But it has always been something in

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<v Speaker 4>the back of my mind. Would I've always said some

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<v Speaker 4>people say, well, where do you want to take the business?

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<v Speaker 4>But where where do you want to go? In the

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<v Speaker 4>back of my mind Sometimes you don't say it out

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<v Speaker 4>loud because you're ashamed too or I don't know, boy,

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<v Speaker 4>in the back of my mind, I've always thought I

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<v Speaker 4>would love to IPO the company and be a PLC.

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<v Speaker 1>It's interesting we've been reporting some comments from the Prime

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<v Speaker 1>Minister overnight saying that he doesn't think there's anything in

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<v Speaker 1>the budget that's going to scare entrepreneurs away. Is there

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<v Speaker 1>anything that you'd like to see the government do that

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<v Speaker 1>would perhaps help you to boost your business? You know?

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<v Speaker 4>For us, I just think in the UK it's important

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<v Speaker 4>for businesses to work with the government's government to work

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<v Speaker 4>with businesses, and I think whatever policies are put forwards,

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<v Speaker 4>we're going to embrace them, you know. So we look

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<v Speaker 4>forward to whatever whatever government and whatever policies are put

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<v Speaker 4>in front of us.

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<v Speaker 1>Talk to us about where you expect the company to

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<v Speaker 1>go from here. What's your next big goal that you're

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<v Speaker 1>aiming for.

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<v Speaker 3>So that's where my focus is. And we've not gosted

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<v Speaker 3>the service. Literally we've done well. You are right.

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<v Speaker 4>We've been around now ten years and we've come a

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<v Speaker 4>long way, but we've not gosted the service.

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<v Speaker 3>So where we could be. This industry is absolutely huge.

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<v Speaker 4>This is a big world and we're now embracing a

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<v Speaker 4>lot of new consumers, consumers from health and wellness consumers

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<v Speaker 4>all the way up to professional athletes.

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<v Speaker 3>It's the road ahead of us is absolutely huge and exciting.

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<v Speaker 2>And having done this yourself, what advice would you give

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<v Speaker 2>to someone else who would be in your position where

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<v Speaker 2>you were about ten years ago, or someone you know

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<v Speaker 2>considering starting their own business as well?

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<v Speaker 4>Number one, believe in yourself, don't let anyone put doubts

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<v Speaker 4>on your own bleeps and your own ambitions, folly dream

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<v Speaker 4>and just just just keep grinded away.

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<v Speaker 1>Do you think your Your business is based in Liverpool,

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<v Speaker 1>are you Is that a good place for your business

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<v Speaker 1>to be where you tempted to move anywhere else the time?

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<v Speaker 1>Do you think you're kind of in a leadership position

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<v Speaker 1>there where it comes to entrepreneurship in the city.

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<v Speaker 3>I'd like to think so, yeah. I mean, we would

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<v Speaker 3>never ever move from the city. We are a Liverpool

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<v Speaker 3>based company and that that's it. That's our route.

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<v Speaker 4>We manufactured in you know, we have a headquarters there,

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<v Speaker 4>We have a manufacturing facility, warehouse and facility officers. We

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<v Speaker 4>also have officers in the US, also in Dallas, but

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<v Speaker 4>the heart of the business is in the book.

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<v Speaker 1>I'm interested in your export market as well. Where are

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<v Speaker 1>you targeting to expand that? And you know, there's been

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<v Speaker 1>so much talk about how the UK it's more difficult

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<v Speaker 1>to trade, for example, with the European Union post braggs

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<v Speaker 1>that have you experienced any of that?

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<v Speaker 4>There was there was complications post Brexit. I think that

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<v Speaker 4>it's nothing that we've never overcome quite quickly, and it

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<v Speaker 4>hasn't stopped us in any way or slowed us down

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<v Speaker 4>in any way of trading with Europe. In factor's a

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<v Speaker 4>huge demographic for US it's a region that where we

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<v Speaker 4>do very well and we're growing in We're now going

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<v Speaker 4>multichannel in Europe into grocers, so we've not seen any

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<v Speaker 4>suppressing so we will not be suppressed in any way

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<v Speaker 4>since since Brexit.

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<v Speaker 2>Thomas, thank you so much for joining us this morning

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<v Speaker 2>and congratulations on the IPA this morning, but thank you

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<v Speaker 2>for your time.

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<v Speaker 1>Thomas Rider, their founder and CEO of Applied Nutrition. Those

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<v Speaker 1>shares trading at just over one hundred and forty seven

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<v Speaker 1>pence on the London Stock Exchange this morning, the latest IPO,

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<v Speaker 1>of course in the city at a time that we've

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<v Speaker 1>been talking about a dearth of such listing. So great

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<v Speaker 1>to get the perspective there of Thomas Ryder about his

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<v Speaker 1>both the journey to the IPO for the company, why

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<v Speaker 1>they chose to list in London, and his hopes for

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<v Speaker 1>where they go next.