StockMarketWire.com - Financial services group AJ Bell said it had priced its initial public offering at 160p a share, representing a market valuation of £651m.

'The IPO is a significant milestone for the business and I see it as firing the starting gun on our next phase of growth, which I'm massively excited about leading the business through,' said chief executive Andy Bell.

'The demand for our IPO from both blue chip institutions and our own customers was a real endorsement of our business and the market opportunities that lie ahead of us and I'm pleased to welcome our new shareholders on board.'

'I'd also like to thank our employees who do so much day in, day out to ensure we deliver great service to our customers and help them to invest.'

At 8:56am: [LON:AJB] share price was +212.55p at 212.55p

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DISCLAIMER: AJ Bell, referenced in this article, is the owner of Stock Market Wire.