WH Ireland Group PLC - London-based broker and wealth manager - Completes GBP7.8 million acquisition of financial advisory and wealth management firm Harpsden Wealth Management Ltd. The deal was first announced last month. To help fund the acquisition, the broker raised GBP5.3 million through a placing of 13.3 million shares at a price of 40 pence each.
"This transaction strengthens the company's senior leadership team; increases our assets under management whilst enhancing our earnings, and adds a chartered independent financial advice business around which we can build our own offering. We look forward to integrating Harpsden within the WH Ireland group and welcoming their clients," says Chief Executive Philip Wale.
Current stock price: 43.40p
Year-to-date change: down 11%
By Ife Taiwo; ifetaiwo@alliancenews.com
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WHIreland (WHI)