9th Dec 2015 09:07
LONDON (Alliance News) - AFH Financial Group PLC on Wednesday said it has raised GBP6.5 million through a placing and subscription to back its acquisition strategy.
The financial planning company said it will issue 2.7 million shares via a placing and 1.2 million through a subscription agreement at 165.00 pence per share, run by Allenby Capital Ltd. AFH shares were untraded on Wednesday morning, having last traded at 189.70p.
The company said the net proceeds from the placing will be used to back its strategy of acquiring independent financial adviser firms and for working capital purposes.
By Sam Unsted; [email protected]; @SamUAtAlliance
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