Monday, 19 November 2018 11:22
AJ Bell confirms plans for £500m London float
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Andy Bell
Platform and SIPP firm AJ Bell has confirmed plans for a float on the London Stock Exchange next month with the company valued at up to £500m.
Major shareholders Invesco Perpetual and chief executive Andy Bell will have an opportunity to sell down their stakes in the business while broadening the firm’s shareholder base.
Invesco currently has a 44 per cent stake which it is expected to sell down to around 25 per cent.
Mr Bell holds 28 per cent of the business and is expected to retain around a quarter.
AJ Bell says the float would enhance its brand, extend its shareholder group, assist in recruitment and incentivisation and help with its growth strategy.
Major shareholders Invesco Perpetual and chief executive Andy Bell will have an opportunity to sell down their stakes in the business while broadening the firm’s shareholder base.
Invesco currently has a 44 per cent stake which it is expected to sell down to around 25 per cent.
Mr Bell holds 28 per cent of the business and is expected to retain around a quarter.
AJ Bell says the float would enhance its brand, extend its shareholder group, assist in recruitment and incentivisation and help with its growth strategy.