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Platform shares dive after IPO bounce

Platforms Nucleus and Transact have both taken a hit on their share prices after a suge in interest when they became listed companies.

Nucleus’s share price has fallen from 239.5p a share on 26 July when it listed on Aim, to 161.5 per share as at 15 October, a fall of a third.

In September the platform saw its post-tax profit double in its first results as a listed company after an injection of capital.

The company reported profit after tax of £2.2m in the six months to 30 June 2018, compared with £1.1m in the first half of 2017.

Transact’s parent company IntegraFin listed on the London Stock Exchange in March with a £650m valuation.

Its share price initially surged from 285p a share as at 12 March to a high of 401p per share as at 18 July 2018.

However, its share price has weakened since then to 318p per share as at 15 October, down more than 20 per cent on its peak.

In September, support service SimplyBiz reported a pre-tax loss of £1.2m for the six months to 30 June in its first set of financial results as a public company after it also listed on the London Stock Exchange in April.

It is currently trading up 18 per cent on its opening price.

AJ Bell is preparing to list on the main market of the London Stock Exchange either in December this year or early 2019.

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