AFH raises more money to fund future takeovers

WORCESTERSHIRE IFA and wealth management firm AFH Financial has announced it has raised £500,000 through a shares issue.

The proceeds of the issue will be used to provide additional working capital for  the company and to finance potential future acquisitions.

At the beginning of this month the Bromsgrove firm made its 15th acquisition in just over two years when it took over the business and assets of Hemel Hempstead-based CH Financial.

Alan Hudson, chairman and chief executive of AFH, said at the time: “We continue to make well-timed, select investments.”

n August AFH signalled its intent to press ahead with a £2.8m fundraising to provide a war chest for future acquisitions after receiving investment support.