Mortgage Advice Bureau (MAB) has floated on the Alternative Investment Market (AIM).

The firm said it had received strong demand from investors despite recent turbulent market conditions.

The share price has been set at 160p per ordinary share, which represents a market capitalisation for MAB of circa £80m. Conditional dealings will commence on the London Stock Exchange at 8am today, with admission and unconditional dealings expected to take place on Friday 14 November.

Peter Brodnicki, chief executive of MAB, said: “Our admission to AIM will provide us with a strong platform from which to build on our success to date, by supporting the growth of our network and franchise partners, and with a view to attracting more high quality and strongly performing intermediary firms into our two propositions.

“Mortgage intermediaries play a very important role in the mortgage and protection advice process, and since the introduction of MMR the intermediary market share has increased and I expect it to increase further.”