AJ Bell to float with special offer for customers

Postado Março 13, 2018

AJ Bell also confirmed its two largest shareholders - co-founder and chief executive Andy Bell and Invesco Perpetual - would both retain "cornerstone shareholdings" after the IPO.

In the 12 months to 30 September 2017 AJ Bell reported revenue of £75.6m, a 17.2 per cent increase on the previous year, while pre-tax profit increased by 29.1 per cent to £21.7m. "The group does not intend to raise new capital as part of the IPO given its financial strength, highly profitable business model and debt-free balance sheet".

"He said the retail share offer that is being made exclusively available to the company's 172,000 customers represented AJ Bell's effort to "[enable] them to be able to share in our success". Our focus on the needs of our customers has resulted in assets invested via our platform increasing by 26 per cent a year on average over the last five years, with total assets under administration hitting £42 billion.

Bell (pictured) said: 'An IPO is a natural next step in our journey and will provide a further boost to our future growth through the increased profile a stock market listing will give us.

Broker Numis Securities has been hired to oversee the process and to recommend whether the flotation should be pushed back to early next year.

AJ Bell is a self-invested personal pension provider and investment platform.

Invesco Perpetual now holds around 45% of the company's shares, with stakes in Woodford's former Invesco Perpetual Income and High Income funds, now run by Mark Barnett.

In order to participate in the early offer, customers must be a customer of AJ Bell's platform.

Thousands of customers of one of Britain's biggest investment platforms will be given exclusive access to its stock market debut after it said that it would list in London in a deal that could value it at £500 million.

A Woodford Investment Management spokesperson said: "Neil has to make decisions about the allocation of capital all the time".