LONDON (Alliance News) - AFH Financial Group PLC said Tuesday it raised GBP15 million via the placing of shares by way of an accelerated bookbuild.
The financial planning led investment management firm issued 4.1 million shares at 370 pence per share.
AFH shares were trading down 1% at 400.0p on Tuesday.
The company said it will use the funds raised to cover the costs of its acquisition pipeline.
"The company currently has a strong pipeline of potential acquisitions in due diligence and under negotiation," AFH explained.
Liberum Capital Ltd will act as sole bookrunner in relation to the placing.
Admission of the new shares to trading is expected on Friday after which the company will have 42.0 million shares in issue.
