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Decision to be made next year

Ferguson hints at stock market IPO for Nucleus

David FergusonWrap platform Nucleus could be making its debut on the stock market next year if shareholders decide it is time to press the button on a listing.

Chief executive David Ferguson has hinted previously at a flotation of the Edinburgh business and  has now told a trade magazine that it will be considered before the end of 2017.

He says: “The shareholder agreement that governs the business obligates us to look at an IPO by the end of next year. It doesn’t necessarily have to happen by then but we have to consider it.

“Eventually one person will want to sell one share in Nucleus, so it’s inevitable the ownership structure will change over time. Ultimately if all the IFAs want to sell the shares, it won’t be IFA-owned any more.

“But the culture and DNA of the business is established, so I don’t think it would matter a great deal who owned it as long as they respect the culture of the business.”

Nucleus’s latest results, published in December, show profits hit £2.4m in the third quarter of 2015, up from £1.9m in the same period of 2014.

An interview will appear in Money Marketing.

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