AJ Bell founder Andy Bell sells 7.5m shares in placing, raises £28.1m
AJ Bell
454.00p
17:15 20/12/24
0.00%
0.00p
AJ Bell said on Friday that founder Andy Bell sold 7.5m shares in the investment platform in a placing at 375p each, raising around £28.1m.
Financial Services
17,575.58
17:14 20/12/24
-1.09%
-193.00
FTSE 250
20,450.69
17:14 20/12/24
n/a
n/a
FTSE 350
4,463.29
17:14 20/12/24
n/a
n/a
FTSE All-Share
4,421.11
17:04 20/12/24
n/a
n/a
The placing was conducted through an accelerated bookbuild, with Deutsche Numis acting as sole bookrunner.
Following completion, Andy Bell will hold just over 77.3m shares in AJ Bell, which represents a stake of approximately 18.7%.
The company is not a party to the placing and will not receive any proceeds.