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AJ Bell sets 160p as offer price for IPO

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By Reuters

(Reuters) – Financial services company AJ Bell Plc <IPO-AJH.L> said on Thursday said it set its offer price at 160 pence per share, which would value the company at 651 million sterling ($832.30 million).

The offer will raise net proceeds of about 169.3 million stg for selling shareholders, the company said in a statement.

The UK-based company had given a price range of 1.54 stg to 1.66 stg for the offer after expressing its intention to float the company last month.

($1 = 0.7822 pound)

(Reporting by Mekhla Raina in Bengaluru; Editing by Dan Grebler)