Hydralyte IPO scores support of Gandel family, Saville and Regal
Nov 22, 2021 – 9.48am
Hydration solutions company Hydralyte has had no problem attracting interest for its upcoming float, closing its raise early on Monday morning and bring on a range of notable small cap investors.
The US division of the company, which is owned and operated by a group of former Swiss executives, has scored the support of the Rich Lister family the Gandel’s, the Saville Capital’s Emerging Companies Fund and Regal Funds Management’s Emerging Companies Fund.
Hydralyte’s hydration products are used by athletes to replace electrolytes lost through sweat.
Led by former Swisse Wellness North American general manager Oliver Baker, Hydralyte also counts former Swisse Wellness director of strategy and corporate George Livery as its chairman, while former Swisse CEO Radek Sali owns 18.5 per cent of the company.
The brand is recognisable to Australians, selling a range of electrolyte-rich tablets, liquids and powders. It was aiming to raise $17 million at an issue price of 29¢, giving it a market capitalisation of $46.7 million.
Hydralyte had stockbroker BW Equities handling the raising.
In the third quarter, the company had an annual revenue run rate of $10.8 million, while actual revenue for the 12 months to September 30 was $7.5 million.
The license to sell Hydralyte’s products in Australia was sold to Prestige Brands in 2014.