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Nucleus sounds out adviser shareholders on AIM float

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Nucleus sounds out adviser shareholders on AIM float

Platform Nucleus has written to advisers asking them about the possibility of floating the business.

Advisers first came on board as shareholders in Nucleus when the company was launched in 2006. Five founding members were joined by other advisers until the ownership scheme was closed at the end of 2012.

Last week adviser-shareholders in Nucleus received a letter which explores the prospect of floating on AIM.

A spokesman for Nucleus confirmed the letter was sent but added that it did not mean the company has agreed decided on a path of action. 

‘As part of its existing shareholder agreement, Nucleus is required periodically to consider the possibility of an exit event for shareholders and does have discussions with various parties from time to time.

‘Last week Nucleus sent letters to its current shareholders to explore one such possibility but there is no guarantee that an IPO will take place,’ he said.

In March Sky News reported the platform, which has more than £13 billion of assets, was preparing to float in the next few months and Shore Capital has been appointed to oversee a listing. At the time Nucleus said this was just speculation. 

Rival platform Transact, which also has a number of adviser shareholders, floated on AIM in March.

The South African company Sanlam, which runs a national advice business and an asset manager in the UK, also has a 42% stake in Nucleus. 

Nucleus paid its first dividend to shareholders last August, worth £5 million in total. David Ferguson (pictured), chief executive of Nucleus, said at the time the payment was 'a sign of financial maturity'.

Earlier this year the AJ Bell platform was also reported to be preparing for a float. 

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