AFH completes £15m fund-raising for new acquisitions

Share issue oversubscribed

Julian Marr
clock • 2 min read

Consolidator AFH has confirmed the completion of today's fund-raising, which saw the company hit its £15m target through the issue of 4,054,055 new ordinary shares at 370p each.

The oversubscribed issue, the proceeds of which will be used to finance the company's acquisition pipeline, follows a previous share issue in November 2017, which raised £16.8m net. In a statement, AFH said it would apply to the London Stock Exchange for the admission of the new shares to trading on AIM, with dealings expected to commence at 8am on 19 October 2018. Following admission, the company will have a total of 41,982,311 ordinary shares of 10p each in issue. AFH chief executive Alan Hudson (pictured) said: "That we have yet again raised such a significant amount is a clear sig...

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 Companies

FSCS declares two advice firms failed

FSCS declares two advice firms failed

Inspirational Financial Management and Attanta are no longer trading

Isabel Baxter
clock 04 April 2025 • 2 min read
Advice duo set up own firm after previous MBO fell through

Advice duo set up own firm after previous MBO fell through

Simon Fettroll and Mark Ventham founded Cesta Financial Planning

Isabel Baxter
clock 01 April 2025 • 5 min read
SJP partner practice Morrinson Wealth Management closes down

SJP partner practice Morrinson Wealth Management closes down

Advisers and clients have been transferred to Fortura Financial Partners

Isabel Baxter
clock 31 March 2025 • 1 min read