Advice firm consolidator AFH Financial group has raised £1m to fund its further expansion as the group issued new shares ahead of its first day of trading on the Alternative Investment Market (AIM).
The firm sold new ordinary shares worth a total of £1.46m before expenses, leaving it with a net total of £1.06m, while its chief executive Alan Hudson sold shares for an additional £1.46m. The placement marked the group's first day of trading on AIM, having moved over from the ISDX Growth Market. The company said it wants to take advantage of AIM's "higher profile, broader investor base, greater liquidity and access to institutional investors for the placing and any future potential fundraisings". It intends to accelerate its acquisition strategy and organic growth following the s...
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