I am delighted to announce that on 23rd June 2011, AFH Financial Group Plc floated on the Plus-quoted Market. Over the last few days, we have received acknowledgement that the subscription has been completed and can confirm that the proceeds of the flotation totalled £1,757,500.
Plus Stock Exchange (PLUS-SX) is a London based stock exchange, providing UK and International companies with access to European capital through a range of fully listed and growth markets. The growth market offers cost-effective access to capital for businesses seeking the first step onto a public market. Further information about the Plus Stock Exchange can be found on the following site:http://www.plus-sx.com/home.html
Over recent years AFH has grown its business through the recruitment of good quality IFAs and the acquisition of smaller IFA practices. You may already be aware that in 2009, AFH purchased the IFA arm of the West Bromwich Building Society, which was a high profile acquisition, attracting over a 1,000 clients and much national and local publicity.
As an industry the IFA sector is undergoing a wholesale review, initiated by our regulator, the Financial Services Authority. This review is known as the Retail Distribution Review (RDR) and will, amongst other things, result in significant numbers of IFAs either retiring and selling their businesses or joining larger firms like AFH. The demography of the IFA population and the fragmented nature of the sector represents an opportunity which AFH intends to exploit. It is therefore our intention to continue with our expansion plans and the funds raised will be used to finance future acquisitions.
Further commentary regarding our flotation can be found by following the links below:
This is a very exciting time for everyone involved with AFH and I look forward to keeping you abreast of our developments.
Kind regards,
Alan Hudson
Managing Director | 
