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Wellnex Life Ltd on Thursday said it has secured A$14.3 million, around £7.3 million, in binding commitments to meet the minimum capital requirements for its planned dual listing on London’s AIM market, expected in early March. The Melbourne-based consumer healthcare company already is listed on the Australian Securities Exchange in Sydney. Its shares closed up 3.9% to A$0.67 on Thursday, giving it a market capitalisation of A$20.2 million, about £10.2 million. Wellnex said the funds raised will be used to redeem convertible notes, settle deferred payments for its Pain Away Australia Pty Ltd acquisition, and cover listing-related costs. Wellnex Life develops and distributes healthcare, pharmaceutical and wellness products, including its own developed brands such as Wakey Wakey, Nighty Night, and Mr Bright, available in the UK through retailers Superdrug and TK Maxx. Joint Managing Director, Zack Bozinovski said: ‘This can be a game changing moment for WNX; we have a strong business growing quickly, expanding globally and expecting to be unencumbered by debt.’ The company noted that its admission to AIM is on the basis that its business relating to medicinal cannabis is conducted only in Australia. If it undertakes cannabis business outside of Australia, this will be considered a fundamental change in business, and Wellnex shares will be suspended until it publishes a new admission document and gets shareholder approval. Copyright 2025 Alliance News Ltd. All Rights reserved.
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