- The Hydration Pharmaceuticals Company (HPC) is set to commence trading on the ASX on Tuesday, December 14
- The consumer discretionary company raised $17 million through its initial public offering (IPO) which issued about 58.62 million shares at 29 cents each
- HPC owns and operates Hydralyte North America, who sells a range of hydration and health-boosting products in Canada and the US
- Hydration Pharmaceuticals Company expects shares will start trading at midday AEDT
The Hydration Pharmaceuticals Company (HPC) was admitted to the Official List of the ASX on Friday, December 10.
The company completed an initial public offering (IPO) which raised $17 million through the issue of roughly 58.62 million shares at an issue price of 29 cents each.
The IPO is aimed at investing in brand, marketing, sales channel expansion, product development and an expanded Hydralyte North America team, as well as providing financial flexibility for future growth, attracting and retaining high-quality staff, and listing on the ASX.
According to the new ASX-lister, 50 per cent of the raised funds will be used for marketing with the remaining funds going towards product development, operating expenses, working capital and costs of the IPO.
HPC owns and operates Hydralyte North America who markets and sells a range of liquid, tablet and powder hydration products across Canada and the US.
Hydralyte is a North American focused company but was founded in Australia in 2001. The company sold its Australian business and brand licence to Care Pharmaceuticals in 2014. It then launched the Hydralyte North America business in Canada and the US.
The company launched the first of its ‘Hydralyte plus’ product range in the US in 2020, targeting the vitamins, minerals and supplement market to address dehydration causes such as travel, cold and flu.
Its product range consists of hydration, energy, immune and collagen boosters to target the benefits of improved immunity and improved skin and hair health.
The company expects to officially commence trading on the ASX on Tuesday, December 14 at 12:00 pm AEDT.