Transact receives premium listing in £650m IPO

Integrafin, the parent company of investment platform Transact, has been admitted to the London Stock Exchange’s main market for listed securities.

The firm announced Friday that its entire issued share capital of 331,322,014 ordinary shares obtained a premium listing on the Financial Conduct Authority’s official list and began trading on the LSE under the ticker “IHP.”

Following the news, its share price rose close to 3% and was around 265p per share at the time of writing.

This morning, Sky News reported rival platform Nucleus, which has £13bn assets under administration, is also looking to IPO later this year.

Transact was the UK’s first wrap platform when it launched in March 2000, a year after the parent company was set up. At the end of last year, Transact had £29.7bn of funds under direction, serving more than 150,000 clients on behalf of 5,100 financial advisers.

Integrafin first announced its intention to float in January. A month later, it confirmed it was targeting a £650m valuation based off an offer price of 196p per share.

Midcap specialist broker Peel Hunt sponsored the deal as sole bookrunner and broker to the firm.

At the time, CEO Ian Taylor said: “We have been delighted with the response IntegraFin has received from investors and welcome them to our business. It is 19 years since our foundation as the UK’s first B2B platform company and the support we have received to date is a strong reflection of our successful growth since inception. We are proud to have built such a business and look forward to maintaining the high levels of service to our clients and building valuable, long-term relationships with our shareholders.”

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