JD Sports sells Applied Nutrition stake for £49m via placing

(Sharecast News) - UK sportswear retailer JD Sports Fashion has sold its entire 9.1% stake in Applied Nutrition for £49m. 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.

Reporting by Frank Prenesti for Sharecast.com