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February 20, 2014updated 04 Apr 2017 2:29pm

AFH Financial to list on AIM market to fund fresh acquisition

British wealth firm AFH Financial Group, which is currently listed in ISDX Growth Market, is planning to move to AIM market to fund acquisition opportunities.

By Verdict Staff

British wealth firm AFH Financial Group, which is currently listed in ISDX Growth Market, is planning to move to AIM market to fund acquisition opportunities.

In a statement to the Stock Exchange, the firm said: "It has always been the company’s intention to move to AIM at an appropriate time and the directors believe that the company has made sufficient progress while on ISDX such that the move to AIM is now a logical next step."

The statement added the move would help it attract new investors, raise the profile of the company and assist it raise capital for growth.

AFH chief executive Alan Hudson said: "We believe that given the fundamentals of the business and the nature of the IFA market, the time has come for a move to AIM. "The increased profile will assist the company in its aim to expand through strategic acquisitions and organic growth," Hudson added.

The Bromsgrove-based firm employs more than a 100 wealth advisers and provides discretionary investment management service controlled by a team of 20 investment managers.

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