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Alpha Financial Markets raises £125mln ahead of AIM float

At a float price of 160p, Alpha will have a market value of £160mln.

Alpha is taking

Wealth management consultant, Alpha Financial Markets Consulting PLC (LON:AFM), will join AIM later this month having raised £125mln ahead of its listing.

Some £35mln of the funds are new money for the company while £90mln will go to major backer Dunedin, which will no longer have any stake in the group.

At a float price of 160p, Alpha will have a market value of about £163mln.

Alpha specialises in advice on all aspects of investment fund and wealth management offices through operating systems, data, processes and the back and front-end functions.

Revenue has grown to £43.6mln this year from £6.7mln in 2011.

A new phase 

Euan Fraser, Alpha’s chief executive, said: "Today's announcement marks a very exciting new phase of Alpha's journey as a leading consultancy to the asset and wealth management industry.

“We are absolutely delighted at the strong response to the placing and the recognition from investors of the significant opportunities we have for continued global growth.”

Fund managers are being squeezed by regulatory requirements such as MIFID, rising costs, technology change and continuing consolidation. 

Shares will list under the ticker AFM on 11 October. 


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