You are here: Home - Investing - Experienced Investor - News -

AJ Bell shares rise 35% on stockmarket debut

0
Written by: Danielle Levy
07/12/2018
Shares in investment platform AJ Bell surged 35% during its first day of trading on the London Stock Exchange.

By 3pm on Friday, shares were trading at 219.2p, some 35.3% higher than its IPO price of 160p.

AJ Bell’s IPO share price valued the company at £651 million.

‘The IPO is a significant milestone for the business and I see it as firing the starting gun on our next phase of growth, which I’m massively excited about leading the business through,’ said chief executive Andy Bell.

AJ Bell’s customers accounted for 20% of the shares that were purchased at IPO and the company said the offer was heavily over-subscribed.

“All successful applications received a minimum of 527 shares priced at 160 pence per share,” the company explained in a stock exchange announcement.

The success of the IPO stands in contrast to yesterday’s trading session, which saw the FTSE fall by 3.2% after hitting a two-year low.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Coronavirus and your finances: what help can you get?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

  • Cost of taking a mortgage holiday revealed: The average cost of a 3 month #mortgagepaymentholiday is £665.08, and… https://t.co/gWHI7Lo8zl
  • RT @BlackstockPR: "The government needs to grasp that mounting rent arrears are a serious economic issue that will impact many buy-to-let l…
  • "The government needs to grasp that mounting rent arrears are a serious economic issue that will impact many buy-to… https://t.co/KXusvi1RvR

Read previous post:
TSB raises rates on cash ISA and two-year bond

TSB is hoping to lure savers over the Christmas period by raising the interest rates for its fixed rate cash...

Close