Edinburgh’s Nucleus Financial ‘plans £150m float’

David Ferguson

UPDATE 2 — Edinburgh-based funds platform Nucleus Financial, which counts hundreds of independent financial advisers among its shareholders, is set to float on AIM next week in a deal that could value the group at up to £150 million, according to a Sky News report.

Sky News said the deal will involve raising about £25 million from the sale of shares in Nucleus, which has more than £13.5 billion of assets under administration.

The report said Nucleus recently announced financial results showing a 21% revenue increase last year with operating profit up 19% to £5.1 million.

‎A big stake in Nucleus is owned by Sanlam, the international financial services group.

Last August, David Ferguson, Nucleus’ founder and chief executive, said: “Following five consecutive years of increasing revenues and profitability that has seen the business become debt free with over £15m in cash reserves, Nucleus is better positioned than ever before to take advantage of the significant growth opportunities in the platform sector.”