AJ Bell pressing ahead with float

Investment platform AJ Bell is to press ahead with a stock market flotation that could value the firm at up to £500 million.

The group said yesterday that it intends to proceed with an initial public offering of at least 25 per cent of the company’s shares next month.

At a £500m valuation, founder Andy Bell’s 28 per cent stake is worth some £140m and he is set to trim his holding to 25 per cent.