By Abigail W. Adams
Portland, Me., July 30 – AFH Financial Group plc sold £15 million 4% convertible loan stock due 2024 with an initial conversion premium of 16.67%, which began trading on the London Stock Exchange on July 30, according to a company news release.
Liberum Capital Ltd. and Shore Capital Stockbrokers Ltd. acted as joint placing agents for the offering.
Proceeds will be used for acquisitions and general corporate purposes.
AFH Financial Group is a Bromsgrove, U.K.-based wealth management firm.
Issuer: | AFH Financial Group plc
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Securities: | Convertible loan stock
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Amount: | £15 million
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Maturity: | July 30, 2024
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Placing agents: | Liberum Capital Ltd. and Shore Capital Stockbrokers Ltd.
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Coupon: | 4%
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Conversion premium: | 16.67%
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Conversion price: | £420
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Stock symbol: | AIM: AFHP
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Stock price: | £360 at market close June 27
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Market capitalization: | £140.7 million
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