Consolidator AFH aims to raise £17.5m from its latest share issue to fund continued acquisitions in the advice market.
AFH said it had increased the size of its second share issue of 2017 to meet investor demand. It originally wanted to raise £15m but has increased the total to £17.5m AFH chief executive Alan Hudson explained all its current institutional investors had increased their stakes in the group. "Following on the success of our last issue, we see this as demonstrating continuing confidence in the company and an endorsement of its strategy," he said. The money raised will give AFH a £20m-plus war chest to continue its twin-track expansion strategy of merging with other companies and contin...
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