Australian consumer healthcare company Wellnex Life Ltd (ASX:WNX) is closing in on pland to list on the the London Stock Exchange.
Wellnex has conducted extensive due diligence and analysis on the opportunity, including an institutional roadshow, and the Board is pleased to announce that it has appointed UK advisors to dual list the company’s shares on the London Stock Exchange (LSE) in 2024.
Listing on the LSE will provide a platform to continue to grow the company both domestically and internationally and comes at a time where Wellnex will shortly commence taking our brands and products and brands to new international markets.
As announced on 29 June 2023, Wellnex secured an extension of our supply agreement with Haleon to distribute our products into the UK and UAE markets, with supply to commence in FY25.
Furthermore, as announced on 3 January 2024, an exclusive distribution agreement with Homart Pharmaceuticals will take our brands through their extensive distribution network throughout the lucrative Asian markets.
Advisors Appointed
Wellnex has appointed Strand Hanson as its Financial Advisor to lead the UK advisory team in preparing the required documentation and providing regulatory advice. Wellnex has also appointed Barclay Pearce Capital and Orana Corporation as joint-lead brokers for the listing. These appointments follow extensive market analysis by Wellnex, including market-sounding meetings with numerous European small-cap institutional investors.
Reasons for LSE Listing
A dual listing will increase Wellnex’s international profile, aligning with the company’s international growth strategy, particularly in Europe where Wellnex has an existing supply agreement with Haleon into the UK and is working on further opportunities both with Haleon and other partners. It will also open the door to a wider pool of institutional investors, with the aim of generating additional global investor interest that will drive exposure for the business and increase shareholder value.
“I am delighted to announce we are officially starting the LSE listing process and am excited by the opportunity it presents Wellnex. While we continue to concentrate and increase our presence in the domestic market, this will open up opportunities to grow the business by taking advantage of the numerous opportunities internationally,” Mario Tascone, Chairman of Wellnex, said.
