AJ Bell  

AJ Bell to float with special offer for customers

AJ Bell to float with special offer for customers

Investment platform AJ Bell will float on the London Stock Exchange this year or next, and said its existing customers will have a preferred opportunity to participate.

The listing, on the main market of the UK stock exchange, is expected at the end of 2018 or early 2019.

Company founder and chief executive Andy Bell is selling a small percentage of his holding, but will remain a major shareholder.

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Mr Bell is the largest shareholder alongside Invesco Perpetual, with the latter company also to retain its shareholding.

AJ Bell is a self-invested personal pension provider and investment platform.

The special offer for clients of AJ Bell allows them to buy the shares via the AJ Bell platform for one day before the shares will trade on the market and can be bought by customers of any platform.

In order to participate in the early offer, customers must be a customer of AJ Bell’s platform.

For the twelve months to 30 September 2017, AJ Bell reported revenue of £75.6m and a profit of £21.7m.

The company said it has no debt. It said it has assets under administration of £42bn.

Mr Bell, chief executive of AJ Bell, said: “These are exciting times for our business. Over the last 22 years we have built a multi-award winning and easy to use investment platform that is the engine room of a fast growing and profitable business.

"An IPO is a natural next step in our journey and will provide a further boost to our future growth through the increased profile a stock market listing will give us.”

David.Thorpe@ft.com