AJ Bell announces cut-off date for retail investors to be eligible for IPO

Written by Oliver Wade
19/08/2018

AJ Bell has today announced that retail investors who want to apply for shares under AJ Bell’s planned initial public offering (IPO) need to be UK residents and have opened an account with the firm by 15 October 2018.

AJ Bell has reported that it is aiming to flat on the primary market of the London Stock Exchange in December 2018 or early 2019, and existing advised UK resident customers can register their interest in the IPO via the AJ Bell Youinvest website.

If the IPO goes ahead in December, the application period for eligible customers is expected to commence at the end of November or early December 2018, and be open for a minimum of seven days. Also, before the IPO application is made, consumers will need to have cleared funds available in their AJ Bell account to cover the cost of the shares applied for.

Those customers that are eligible may apply for AJ Bell shares through one of, each of, or a combination of their SIPP, ISA, Lifetime ISA or Dealing accounts. However, the minimum value of shares which must be applied for in each particular account is £1,000.

AJ Bell chief executive Andy Bell commented: “IPOs are traditionally done behind closed doors with retail investors rarely getting access to the flotation price of the shares. As a company that aims to make investing easy for people, this didn’t feel like the right approach for us and so UK customers that have an account with us by 15 October will be eligible to apply for shares in our IPO.

“All existing UK customers can now register their interest in our proposed IPO via our website or their financial adviser. We are expecting to publish an approved prospectus in November 2018 which will include our audited annual results for our financial year ending 30 September 2018, to help investors decide whether our IPO is right for them before the application period opens.”

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