Interactive Investor (II), the on-line retail financial investment platform, is lining up bankers to orchestrate a London flotation that could worth it at up to £2bn.
Sky Information has learnt that Britain’s second-most significant fund grocery store this week invited expenditure banking companies to pitch for a job on an preliminary public presenting that is possible to be among the the City’s most prominent in 2022.
II, which has grown speedily less than the bulk possession of JC Bouquets, the non-public equity agency, has more than 400,000 buyers and £55bn of belongings under administration.
It trails only Hargreaves Lansdown by dimensions in the British isles current market.
A formal decision to proceed with an IPO has nevertheless to be taken, and will rely on industry circumstances, according to bankers.
They added that a flotation was possible to benefit the enterprise at among £1.5bn and £2bn.
Investors’ appetite for retail platforms this kind of as II, Hargreaves and AJ Bell has soared in latest years, with the pandemic obtaining fuelled a surge in client exercise.
II is unique among its peer group mainly because it operates a flat-fee membership product which has proved to be thriving.
In its results for the 6 months to the conclude of June, II reported net earnings has risen by 19% to £76.1m, with more than 30,000 new customers extra during the period of time.
II chief executive Richard Wilson has set up a track file of easily integrating perhaps advanced acquisitions, although getting a vocal advocate for increased involvement for retail buyers in companies’ general public share product sales.
Mr Wilson has spoken frequently about the stock industry being a organic household for the company.
Previously this calendar year, it appointed Gordon Wilson, a previous Travelport government, as its non-government chairman as element of its setting up for an IPO.
The hottest techniques being taken by II in direction of a general public debut arrive months just after a overview led by Lord Hill, a Treasury board member, suggested measures to make it less complicated for retail buyers to participate in IPOs.
Standard buyers are generally frozen out of prominent floats, even though the advent and speedy development of expert services these types of as that offered by PrimaryBid have started to make them much more obtainable.
An II spokesman declined to comment on Thursday.