AFH Financial looks to raise £10m with AIM share placing

According to AFH, net proceeds of the placing will be used to "execute the company's acquisition pipeline and for general corporate purposes". This financial year, AFH has announced five acquisitions, paying a combined £2m in initial cash consideration. Provided excess demand for the placing exists, AFH chief executive officer Alan Hudson (pictured) has agreed to sell up to 1,000,000 existing ordinary shares owned by him at the placing price, which would raise gross proceeds of up to £1.75m. In a statement, the company said: "The board believes the opportunity exists to acquire approp...