The entire ordinary share capital of platform and fund provider AJ Bell has now been admitted to the London Stock Exchange, the firm has announced.
Following the firm’s decision to set a price for its initial public offering last week, it has confirmed this morning that its entire ordinary share capital, consisting of 407,055,994 ordinary shares of £0.000125 each, has now been admitted for trading on the London Stock Exchange’s Main Market.
The firm will take the ticker sign AJB, and has also been admitted to the “premium listing” segment of the FCA’s official list.
On Friday, AJ Bell decided to float 108,264,032 ordinary shares, or 26.6 per cent of its issued share capital, in an exclusive offer for qualifiying customers of the platform.
Since it set the IPO price last Friday, the firm saw demand increase its share price from 162p to 220p by the end of the day, implying a market capitilisation in excess of £651m.
Shares ticked down very slightly in early trading today, but remain at 222p.