Bromsgrove-based wealth manager and independent finanical adviser AFH has made its debut on PLUS, raising raising £1,757,000.
The firm’s share were valued at 80p each on admission, giving the firm a market capitalisation of £11 million.
The float will fund the firm’s growth strategy.
Alan Hudson, chairman and chief executive of AFH Financial Group, said: “We have been delighted with investors’ response to the fundraising and believe PLUS will provide us with an excellent platform as we seek to further our position through both organic and acquisitive growth.
“This is a major step forward in terms of delivering growth to our shareholders.”
The firm has approximately 50 financial advisers, making it one of the largest financial advisory practices in the Midlands.
In 2009, AFH acquired the IFA-arm of the West Bromwich Building Society.
The original business of AFH was founded by Chartered Financial Planner, Alan Hudson, in 1990.
