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AJ Bell eyes stock exchange float

Bell-Andy-2017-CUTAJ Bell is considering floating on the London Stock Exchange, according to reports.

Sky News says AJ Bell is unlikely to float until after the final quarter of this year but it has reportedly met with investment bankers in the past few weeks to prepare for an initial public offering.

For the 12 months to 30 September 2017, AJ Bell reported a 29 per cent increase in profit before tax to £21.7m.

Assets under administration in that period increased by 25 per cent to £39.8bn.

News of AJ Bell’s potential float follows reports yesterday that SimplyBiz is eyeing an IPO as well.

AJ Bell’s rival Transact is also preparing to float next month.

According to AJ Bell’s website, chief executive Andy Bell owns 28 per cent of the company, Invesco Perpetual 37 per cent, Woodford Investment Management 8 per cent, Seneca Investment Managers 3 per cent and “other” investors hold a 24 per cent stake.

According to the 2017 Sunday Times Rich List, Bell, who launched the AJ Bell platform in 1995, is worth £165m, earning him 678th place on the Rich List.

An AJ Bell spokesman says the business does not comment on speculation.

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