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Alpha Financial raises funds, acquires US consultancy services group

Alpha Financial is paying up to US$90mln (£63.8mln) in a mixture of cash and shares for Lionpoint

Alpha Financial Markets Consulting PLC -

Alpha Financial Markets Consulting PLC (LON:AFM) has raised £31mln by issuing shares at 325p a throw to part-finance an acquisition.

The provider of specialist consultancy services to the asset management, wealth management and insurance industries announced the share placing and subscription at the close of business yesterday, along with the acquisition of Lionpoint Holdings, a US-based provider of specialist consultancy services to the alternative investment industry.

Alpha Financial is paying up to US$90mln (£63.8mln) in a mixture of cash and shares for Lionpoint. The maximum amount payable by Alpha Financial includes an earn-out element of up to US$35.2mln (£25mln).

Alpha Financial also revealed there has been no change to current trading or outlook since it released its pre-close trading update last month.


 

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AIM:AFM

Price: 353 GBX

Market Cap: £417.38 m

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on 10/8/21

2 min read