AJ Bell plc Initial Public Offer now open for applications

[Ricksure]

Check your account for more info

Link here to for prospectous....https://www.youinvest.co.uk/sites/defau ... pectus.pdf

[moorfield]

Whilst a dividend policy is discussed in there (page 12) ought we not wait at least 5 years to see if it becomes papabile here, so to speak ?

[kempiejon]

With no history I'm not sure how and IPO can ever make it to a HYP though Royal Mail does get mentioned.

[Raptor]

Moderator Message:
Poster should check boards guidelines. Moving to Shares from HYP Practical. Raptor

[Alaric]

to participate in the IPO

Is it only available to AJ Bell customers?

[77ss]

to participate in the IPO

Is it only available to AJ Bell customers?

Looks like it. I'm interested, but am not prepared to open another broker account.

If the share price doesn't soar I can always buy after the IPO and listing.

If my calculations are correct the yield shoud be about 4.5%.

[kempiejon]

I'm a Bell customer and I'm interested in the offering, it would of course depend on me having the money in that account and doing some more research. I already hold Hargreaves Lansdowne another broker and when I did the research on them they looked a profitable operation and I've since seen capital appreciation, a rising regular dividend income and a handful of specials too. On first glance they looked to be amongst my best performing financials. Now Bell might not be a mirror of HL but they're in the same business and some metrics might copy across.

[raythekiwi]

to participate in the IPO

Is it only available to AJ Bell customers?

Looks like it. I'm interested, but am not prepared to open another broker account.

If the share price doesn't soar I can always buy after the IPO and listing.

If my calculations are correct the yield shoud be about 4.5%.

77ss: I make the prospective yield 2.3%. Would you please be so kind as to compare my figures with your calculation and let me know where they differ. I am a mainly HYP investor so 4.5% would be interesting. At 2.3% it looks a little expensive for my taste. Anyway this is how I get my number using ‘mid’ values from the prospectus.

2018 PBT £28.4m less tax charge £5.7m leaving £22.7m
Dividend policy 65% of after tax profit
Estimated dividend £14.75m
Market capitalisation: £650m
Yield 2.27%
Even if they say the other 35% is surplus to requirements and distribute it the total yield would be 3.5%.
Cheers, rtk

[77ss]

....
77ss: I make the prospective yield 2.3%. Would you please be so kind as to compare my figures with your calculation and let me know where they differ. I am a mainly HYP investor so 4.5% would be interesting. At 2.3% it looks a little expensive for my taste. Anyway this is how I get my number using ‘mid’ values from the prospectus...

Yes - I got that badly wrong! 2.3% it is. Thanks for the check.

Like you, at 2.3% I am less interested.

[supremetwo]

https://www.businesstelegraph.co.uk/aj- ... ipo-price/

Investment platform AJ Bell is set to float on the stock exchange with a value of £651m on Friday morning having priced ordinary shares at £1.60 per share in a “heavily oversubscribed” initial public offering.

The final price falls exactly at the mid point of the £1.54 to £1.66 range set out by the platform, which is used by DIY investors and their financial advisers, last month.[/u][/u]

[simoan]

I didn’t subscribe in the end: Cash at hand was ultimately too tight on deadline day to make it worthwhile. Watching with interest though.

Well I got massively scaled back and only got 43% of the shares I applied for. So a pretty disappointing result from AJ Bell yet again! I should have known better...

All the best, Si

[kempiejon]

Well I got massively scaled back and only got 43% of the shares I applied for. So a pretty disappointing result from AJ Bell yet again! I should have known better...
All the best, Si

I was scaled back too, still never mind as I see I could swap them out today for 30% more than I paid for them.

[supremetwo]

Up 30%!

https://www.aol.co.uk/news/2018/12/07/a ... rket-debut

[moorfield]

Since there was no stamp duty or commission involved, I took a punt on these, and am glad I did - my (paper) gain has more than paid back all my custody fees to date, and should do for another few years!

But buying AJB doesn't really fit with my longer term HYP(ish) strategy, so I plan to try and offload them quite soon.

[PeterBill]

I applied for this one as a long time customer, took a largish position, scaled back to 38% of my total application.
Happy with the outcome so far, hope AJB continues on it's upward path.
Plan to hold and accumulate more if/when price drops back in any market turmoil.