AJ Bell founder Andy Bell to sell 7.5m shares in placing

AJ Bell said late on Thursday that founder Any Bell plans to sell around 7.5m ordinary shares in the investment platform in a placing.

The shares, which represent a stake of around 1.8%, will be offered to institutional investors through an accelerated bookbuild. Deutsche Numis will act as sole bookrunner and the placing will open with immediate effect.

The final number of shares to be placed will be agreed at the close of the bookbuild process, and the results of the placing will be announced "as soon as practicable thereafter".

AJ Bell is not a party to the placing and will not receive any proceeds.