Displaying items by tag: London Stock Exchange

Platform and SIPP operator AJ Bell’s market capitalisation is will be “approximately £651m”, the company has revealed.

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.

The chief executive of pensions company Mattioli Woods says the floating of its newly incorporated property investment company on the London Stock Exchange is a significant milestone.