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Wellnex Life Ltd ( (AU:WNX) ) has issued an announcement.
Wellnex Life Limited has secured A$9 million in initial conditional commitments for its capital raise, a step towards its proposed dual listing on the AIM Market of the London Stock Exchange. The funds will help in redeeming convertible notes, settling deferred payments, and supporting working capital, which is expected to save the company $1.4 million annually. This move is part of Wellnex Life’s strategy to enhance its market presence in the UK and Europe, leveraging its partnership with Haleon. The dual listing, though not guaranteed, is seen as transformative, potentially boosting revenue growth and shareholder value.
More about Wellnex Life Ltd
Wellnex Life Limited is a consumer healthcare company that has developed a diverse portfolio of brands and licensing agreements. These include in-house brands like Wakey Wakey and Nighty Night, as well as the topical pain relief brand Pain Away, acquired in 2023. The company has also secured IP licensing agreements with global pharmaceutical companies such as Haleon. Wellnex Life has seen significant revenue growth, with a 112% increase in H1 FY25, driven by a 182% rise in brand revenue and a 64% increase in IP licensing.
YTD Price Performance: 25.83%
Average Trading Volume: 5,627
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €16.48M
For a thorough assessment of WNX stock, go to TipRanks’ Stock Analysis page.
