Nucleus floats on AIM with market capitalisation of £139m

Nucleus is reported to have begun floating on the Alternative Investment Market (AIM) with a market capitalisation of £139.9m.
The Edinburgh based wrap platform holds assets under administration of £13.6bn, accumulated since its founding in 2006 by David Ferguson, who still runs the firm.
Nucleus floats with a share price of £1.83p, with 17.5 million of its shares having been admitted to the AIM this morning (26 July)
This means Nucleus’s floatation has raised £32m.
Mr Ferguson, chief executive of Nucleus, said: “This is an important milestone as we continue our work to support and promote the strategic alignment of advisers and their customers.
“It is great to see so many institutional investors believing in the growth potential of this objective and we look forward to collaborating with our users to further promote transparency and improve customer outcomes.”
The transfer of shares follows some of the earliest investors looking for an exit, alongside the opportunity to ‘accelerate growth’ and pave the way for future acquisitions.
Nucleus, which is partly owned by financial advisers, posted an operating profit of £5.1m for 2017, with revenues of £40.4m.