AFH Financial raises £2.8m to fund acquisition strategy

Laura Miller
clock

AFH Financial Group PLC, an independent financial advisory and discretionary wealth management firm, has raised £2.8m to fund its acquisition strategy.

It has received firm commitments to subscribe for ordinary shares of 10 pence each in the company and 8% unsecured bonds due 2020 for an aggregate total amount of £2.8m. The proceeds of the equity issue and the bond issue will be used to provide additional working capital for the company and to finance potential future acquisitions. Since AFH's June 2011 flotation the company has completed 14 acquisitions and adviser numbers have grown from 53 to 120. The company paid a maiden dividend in May 2013 and remains debt free. Commenting on the fundraising, Alan Hudson, chairman and c...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers expecting more of asset managers since Consumer Duty

Advisers expecting more of asset managers since Consumer Duty

‘We actually need to understand one another better’

Hope Coumbe
clock 28 March 2024 • 1 min read
Fears tech limitations could stall MPS on its upward trajectory

Fears tech limitations could stall MPS on its upward trajectory

‘There have been a few changes and challenges around growth in general’

Hope Coumbe
clock 27 March 2024 • 1 min read
Partner Insight: Beyond 60/40

Partner Insight: Beyond 60/40

Invesco
clock 27 March 2024 • 5 min read