Premier listing: Fund manager plots London Stock Exchange flotation

William Turvill
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Inside The London Stock Exchange
The potential float could value Premier at up to £200m, insiders have said (Source: Getty)

Fund management company Premier Asset Management is considering a float on the London Stock Exchange this year.

Keefe, Bruyette & Woods and Numis are advising the firm on the possible initial public offering (IPO).

The flotation discussions come nine years after Guildford-based Premier was taken private by Electra Partners.

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Private equity firm Electra currently owns 25 per cent of Premier, having sold a majority shareholding to Elcot Capital Management in 2014.

Premier currently has just less than £5bn of assets under management (AUM). According to Electra, the firm’s AUM grew 34 per cent in the year to September 2015, while profits rose 48 per cent.

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Electra values its 25 per cent stake at £33m and insiders told the Sunday Times the company could be worth between £150m and £200m.

The company is to assess investor interest before formally launching the float, with the plans at an early stage.

Following a slow start to the year for the IPO market, September has seen a pick-up in activity. Hollywood Bowl priced its float at the end of last week, while Pure Gym, Go Compare and Biffa all announced flotation plans.

Meanwhile, technology firm Misys is plotting a £5.5bn float that would be the biggest of the year.