Stockbroker A J Bell said today that the price range for its upcoming initial public offering (IPO) has been set between £1.54 to £1.66 per share, implying a market capitalisation of between £626m and £675m.
The company valuation is higher than many analysts expected.
Chief executive Andy Bell confirmed as he told media: “There has been significant interest in our IPO which reflects the potential for expansion in our market, the strength of our business model and our track record of sustainable growth.
“The application period for the IPO is due to open later today and our customers will be able to apply for shares via our investment platform where they will find the prospectus to help inform their decision.”
The investment platform will announce final pricing on or around 7 December 2018 and the company shares are expected to list on 12 December.
The group will also be publishing a prospectus later today.