Edinburgh-based funds platform Nucleus Financial Group Limited said its shares started trading on AIM on Thursday at a placing price of 183p, giving the firm an expected market capitalisation of £139.9 million.
Nucleus Financial CEO David Ferguson said: “It’s 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.”
When it announced its planned IPO earlier this month, Nucleus Financial Group said it provides “independent wrap platform services to over 2,200 adviser users across more than 800 financial adviser firms” and is responsible for assets under administration (AUA) of £14.3 billion on behalf of more than 90,000 customers as at May 31, 2018.
Ferguson co-founded Nucleus in 2006, growing it from a team of two to more than 200 employees.
Ferguson is chairman of FinTech Scotland.