Transact parent IntegraFin Holdings is applying to list on the main market of the London Stock Exchange with the float expected to take place in March.
IntegraFin today confirmed its intention to go ahead with an initial public offering.
Shares in the company will be offered to UK institutional investors. Those “elsewhere outside the United States” will also be able to invest in Integrafin.
According to the company, the offer size is expected to be more than 25 per cent of issued share capital. After the IPO, it is expected the company will be able to be included in FTSE UK indices.
Transact chief executive Ian Taylor says: “Supported by a growing demand for financial advice, an increasingly complex investment landscape, pension freedoms and strong growth drivers in the UK wealth management market, we believe that we are well-positioned to continue to achieve long-term sustainable growth, returning value to our shareholders, customers and staff alike. We are extremely positive about the future.”
Earlier this month Transact reported profits of £29.9m for the year to 30 September 2017. Gross inflows rose by 49 per cent to £5.31bn and net inflows increased by 66 per cent over the 12-month period.
At the end of that year the business had funds under direction of £27.9bn, up 13.5 per cent on the year before.