AJ Bell directors sell shares worth £25.7m a year after IPO

400p per share

clock • 1 min read

A number of directors, senior managers and employees of AJ Bell have sold £25.7m worth of shares in the investment platform through a placing at a price of 400p per share, according to a Numis Securities announcement.

The proceeds from the sale of 6,422,905 ordinary shares are subject to completion of the trades, with settlement expected on Friday 13 December. The news follows an announcement yesterday of the intention to sell shares worth around 1.6% of the total number of shares issued by the company to institutional investors through an accelerated bookbuild, brokered by Numis Securities. The move can as the lock-in period of one year since AJ Bell IPO on 12 December 2018 came to an end, with shares nearly doubling in price from 223.50p on 11 December 2018. Share were sold by a number of dire...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Equities

The global equity sector has continued to see inflows

Industry Voice: The trend towards global equities is likely to continue

The argument for diversification is unambiguous given the uncertain economic backdrop

Fidelity International
clock 05 December 2022 • 1 min read
Abrdn set to return to FTSE 100 after relegation

Abrdn set to return to FTSE 100 after relegation

Hargreaves Lansdown predicts return along with Weir Group

Elliot Gulliver-Needham
clock 22 November 2022 • 2 min read
The global equity sector has continued to see inflows

Industry Voice: Sustainable investing is here to stay, despite the criticism

The industry is facing challenges but they have been overplayed

Jamie Harvey, portfolio manager at Fidelity International
clock 21 November 2022 • 1 min read