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AJ Bell CEO: there is not enough platform stock to go around

In a rare video interview the chief executive of platform company AJ Bell spoke to New Model Adviser about its upcoming flotation plans and delivers his verdict on the capacity of the market for platform shares.

The chief executive of platform and Sipp provider AJ Bell has said that the multiple planned platform floatations this year show 'the quality of the market.'

Speaking to New Model Adviser®, Andy Bell said that the platform market would definitely be able to accommodate several initial public offerings (IPOs) in one year.

'I think there’s almost not enough stock to go around,' he said.

'You’ll have seen Transact’s share price has moved [upwards] and I think they’ll be the first to admit that part of that is being driven by lack of liquidity in the market, so, certainly speaking to investors [...] it’s actually some of them are saying "we just love the platform space, we want to be a part of it".'

Last week shares in Integrafin Holdings, which is Transact's holding company, rose sharply from 358p on Thursday to 370p. At 09:30am this morning shares cost 368p.

Transact announced its intention to float in late January this year. A month later reports emerged that AJ Bell was preparing to do the same.

Platform company Nucleus is also reportedly eyeing a floatation. Just last week, New Model Adviser ®reported that the company was sounding out IFAs on its plans. 

You can watch our interview with AJ Bell chief executive Andy Bell above. Pictured below are Andy Bell, NMA editor Will Robins, and online producer Ollie Smith. 

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