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AFH Financial raises £2.8m to fund acquisition spree
by James Phillipps on Aug 21, 2013 at 07:39
AFH Financial has raised £2.8 million in a share and bond issuance to fund acquisitions.
The advisory and discretionary wealth firm has carried out 14 acquisitions since floating in June 2011 and paid its maiden dividend in May.
The equity issue raised £2.07 million gross and a further £752,000 was received in subscriptions for its bonds, which are expected to start trading on 16 September.
AFH chairman and chief executive Alan Hudson (pictured) said: ‘Today's fundraising is a strong endorsement of the company's organic and acquisitive business strategy, executed against the background of a tight credit market.
‘We are pleased to have received this strong level of support from the investment community and look forward to moving ahead with our strategy to become a leader within our field. AFH is well-funded, debt-free, dividend paying and perfectly positioned.’
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