LONDON (Alliance News) - AFH Financial Group PLC said Tuesday it plans to raise GBP15 million via the placing of shares by way of an accelerated bookbuild.
The financial planning led investment management firm said that the price of the placing will be 370 pence per share, while the number of shares to be placed remains at its discretion.
AFH shares were untraded at 404.0p 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.