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Allfunds plans “momentous” IPO

initial public offering Distribution platform Allfunds has announced plans to list on Euronext Amsterdam and to launch an initial public offering (IPO).

The IPO is expected to consist of a private placement of existing shares held by BNP Paribas Securities Services, Credit Suisse and LHC3.

The sale, which will amount to a minimum of 25% of the company’s shares, is scheduled to take place in the coming weeks, subject to market conditions.

Founder and CEO Juan Alcaraz has hailed the IPO as a “momentous” step for the company he founded 20 years ago.

“This listing provides us with the flexibility to accelerate the digital transformation of the wealth management industry and the growth of our best-in-class global platform,” he said.

Allfunds will not receive any direct proceeds from the IPO but it believes the listing will raise the firm’s profile and provide diversified sources of funding.

The Allfunds platform had over €1.2 trillion of assets under administration as of December and it has seen its assets under management increase by 13% during the first quarter of 2021, from €515 billion to €582 billion.

The Spain-based company has also broadened its offering in recent years, including the development of Allfunds Connect, a range of digital analytics tools, and the launch of Allfunds Blockchain in September 2020. 

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