Broker AJ Bell Sets IPO Price Range At Up To GBP675 Million Market Cap (ALLIPO)

LONDON (Alliance News) - Stock broker and investment services provider AJ Bell PLC on Tuesday ...

Alliance News 27 November, 2018 | 9:14AM
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LONDON (Alliance News) - Stock broker and investment services provider AJ Bell PLC on Tuesday said the price range for its stock market float has been set at GBP1.54 to GBP1.66 per share, set to give it a market capitalisation of between GBP626 million and GBP675 million.

The initial public offering will be comprised of existing ordinary shares expected to be sold by some AJ Bell shareholders, directors and employees

The company, which provides systematic investment plans, savings account and share dealing services, intends to announce final pricing of its IPO on December 7, with dealings in its shares expected to start on December 12. It will publish a IPO prospectus later on Tuesday.

The company has engaged Numis Securities Ltd to act as sponsor, financial adviser, sole bookrunner and broker in relation to the IPO.

By Tapan Panchal; tapanpanchal@alliancenews.com

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