Jupiter Asset Management has announced plans to float on the stock market in a move that could raise £300 million.
The gains will be paid out in bonuses to private equity backers, star fund managers and company directors.
It will also be used to expand the business and cut Jupiter’s £150m debt pile. It is also thought that by being listed on the London Stock Exchange Jupiter would be able to attract new fund managers by luring them in with shares.
However, investors are reported to be wary of such a large flotation in what is a volatile stock market.
A number of public listings were pulled at the beginning of the year, including fashion chain New Look and Madam Tussaud's owner Merlin Entertainment, as unstable markets hit investor confidence.
And the share price of Jupiter’s rival Gartmore has plummeted since its listing on the stock exchange in December,
The company said in a statement: "Admission is an important step in Jupiter's development and will strengthen its ability to retain and attract talented employees, as well as providing the company's shareholders with some liquidity and a transparent valuation for their shareholdings."
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