AFH Financial raises £10m

AFH Financial Group has raised £10m through the issue of 5,714,285 new ordinary shares at 175p apiece.

The group said chief executive Alan Hudson agreed to sell 1,000,000 existing ordinary shares at the placing price to satisfy excess demand.

The group said Hudson how held 6,555,700 ordinary shares and had agreed to a 12 month lock-in in respect of any sale of these shares.

At 8:53am: (LON:AFHP) AFH Financial Group Plc share price was 0p at 185p