Nucleus prepares for £150m London float in late July

Investment platform Nucleus has announced it will float on Aim later this month, and is expected to be valued at around £150m on listing.

Nucleus, which is owned by hundreds of independent financial advisers, boasts around £14.3bn in assets under management.

The company said it expects shares will start trading in late July, and though it did not confirm its price at listing, reports suggest the company will be worth around £150m.

Nucleus provides a "wrap platform" which allows financial advisers to offer their customers access to several different investments like ISAs and pensions all in one place.

It currently has 2,200 adviser users from more than 800 firms working with over 90,000 customers in the UK.

Shore Capital is acting as adviser, bookrunner and broker to the deal, and Craven Street Capital will act as financial adviser to Edinburgh-based Nucleus.

David Ferguson, chief exec and founder of Nucleus, said:

Nucleus has been an exciting journey so far and we expect this admission to Aim to mark an important milestone in the business's maturity and to open up new opportunities for us. We remain committed to keeping adviser / client alignment and transparency at the heart of what we do and to continue developing a market-leading platform and best in class customer service to deliver on our objectives.

Angus Samuels, chairman of Nucleus, added: "Nucleus is a business that has been built in collaboration with advisers and we are proud to be embarking on the next stage of the company's development together. This is an exciting moment for the business and one we could not have achieved without the support of our dedicated team and community of supportive adviser users. We are looking forward to life as a listed company and the opportunities that lie ahead of us."

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