Applied Nutrition Plc, a protein-shake manufacturer, is expected to set the price of its initial public offering in London at approximately 140 pence per share, which is at the lower end of the previously indicated range of 136 to 160 pence.

This pricing strategy values the company at around £350 million, equivalent to $454 million. Sources familiar with the matter have indicated that there is enough demand for the IPO at this price point, although they have requested anonymity due to the confidential nature of the information.

This move is a significant milestone for Applied Nutrition as it aims to expand its presence in the competitive health and nutrition market.