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AJ Bell valued at £600m as IPO nears

Andy Bell
Andy Bell

AJ Bell has announced the price range for its stock market float, as it plans to publish the full prospectus for the offer later today.

With a price set between £1.54 and £1.66 per ordinary share, AJ Bell will have an implied market capitalisation of between £626m and £675m.

Once the full details of the offer are released, investors will be allowed to apply for shares up until 5 December.

Final pricing will be set on or around 7 December, with conditional trading going live at 8am that day.

Unconditional dealings are expected to start on or around 12 December.

AJ Bell: IPO is not ‘jobs for the boys’

AJ Bell chief executive Andy Bell says:  “There has been significant interest in our IPO which reflects the potential for expansion in our market, the strength of our business model and our track record of sustainable growth.

“The application period for the IPO is due to open later today and our customers will be able to apply for shares via our investment platform where they will find the prospectus to help inform their decision.”

As previously outlined, the share offer will be split into three: existing shares sold by current holders, a targetting institutional offering, and an offer to qualifying AJ Bell customers via the platform.

Each of the platform’s directors and selling shareholders have agreed to lock-in arrangements for their shares following admission, it has been confirmed.

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