The London Stock Exchange today welcomes Wellnex Life Limited
The London Stock Exchange today welcomes Wellnex Life Limited (AIM: WNX | ASX: WNX), an innovative brand and distribution company focused on consumer health and wellness products, as it celebrates its admission to the AIM Market of the London Stock Exchange.
Wellnex has successfully raised £5.2m gross, giving the Group a market capitalisation of approximately £21.0m and will leverage the listing to execute the Company’s strategy of continuing to bring innovative products to market, increase distribution with a particular focus on international markets and take further advantage of the strong supply agreements with Haleon and others. In addition, the Directors believe that the profile and status of the Company will be enhanced by Admission.
Wellnex Life is an Australian incorporated company based in Melbourne, and is in the business of developing, licensing, marketing and distributing consumer healthcare and pharmaceutical products, which are available in leading retailers and wholesalers across Australia, including Coles, Woolworths, Chemist Warehouse, Sigma and Symbion. One of the Company’s brands (‘Mr Bright’) is also available in the UK through retailers Superdrug and TK Maxx.
The Company was admitted to the Australian Stock Exchange (“ASX”) under the name Wattle Health Australia Limited (ASX: WHA) on 14 March 2017. On 1 June 2021, the Company changed its name to Wellnex Life Limited (ASX: WNX).
“We are delighted with the support we’ve received from both Australian and UK investors to provide us with the funding needed to eliminate costly debt, and provide us with the balance sheet strength to expand our existing business organically and launch our products into the European market. We have an opportunity to capitalise on a growing consumer healthcare market and are well positioned to grow globally, as already evidenced by our recent launch of products in the UK under our supply agreement with Haleon.”
“In our latest trading update for January and February we recorded an 89% year-on-year growth across both own Brand sales and IP licensing revenues. We recorded a 45% increase in gross margins for the two-month period. We expect that our UK IPO, and support from UK investors, along with the support from our Australian investors, provides us with a strong foundation for further growth and geographic expansion.”
Zack Bozinovski
Joint Managing Director
