Nucleus Financial, the adviser-owned and driven Wrap platform providing general, Isa, pension, onshore and offshore bond accounts for investors, has successfully floated on the Alternative Investment Market (AIM) raising £32 million.

This takes its market capitalisation upwards to the tune of nearly £140 million by giving up 23% of its equity to institutional shareholders.

Nucleus was set up by David Ferguson in Edinburgh 12 years ago and was backed by a group of independent financial advisors. It acts as a platform where a financial advisor can give clients online access to a range of investments in a single marketplace.

Describing the listing on AIM, Ferguson said that this was an ‘important milestone’ for the company and its future,  adding that “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.”

Nucleus Financial Floats

Stephen Trombala, lead legal advisor to Nucleus on its listing in AIM and corporate finance partner at Shepherd and Wedderburn, commented saying: “Nucleus is a Scottish fintech success story that has seen exceptional growth in recent years, with £14.3 billion in assets now under management.

“Its listing on AIM marks a significant milestone for the company, and will provide a firm foundation for its continued growth.”

Nucleus’ listing on AIM is 76,473,360 shares with voting rights and 17,530,543 ordinary shares to new institutional shareholders. No new shares have been issued as part of the placing.

Nucleus plans to use some of the cash raised to accelerate growth and will also put in place share incentive schemes for management and staff.

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