It takes a brave company to list on the stock market in the current turmoil, with the roster of flotations either being pulled or subsequently struggling: think Aston Martin Lagonda and Funding Circle. It takes an even braver company to go up against a dominant incumbent — and one of the highest-rated businesses in its sector to boot.
And so to AJ Bell, the stockbroker and investments provider whose shares make their debut on the stock exchange today, although dealing is initially limited to institutional investors. Those members of the public who did not subscribe in advance will not be able to buy them until Wednesday. So should they?
AJ Bell was set up in 1995 in Manchester by two entrepreneurs, Andy Bell and Nicholas