AFH Financial is aiming to raise £15 million in new equity to fund a fresh acquisition spree.
The wealth consolidator, which has made 16 acquisitions in the last 12 months, has priced the shares at 370p, a 7.5% discount to the 400p they closed at on Monday.
'Net proceeds of the placing [will] be used to execute the company's acquisition pipeline,' AFH told the market.
'The company currently has a strong pipeline of potential acquisitions in due diligence and under negotiation.'
The firm, headed by Alan Hudson (pictured), recently made its biggest purchase in its 27-year history, striking a £7.7 million deal to by Maidstone's Core Financial Holdings.
The deal comprises a £3.2 million upfront payment, with the remainder subject to certain performance criteria hit.
'The board intends to continue to execute its strategy of making selective acquisitions and increasing AFH's national footprint, whilst providing a professional and cost effective service to its clients,' AFH said in its placing statement.
'The board believes that the company remains well positioned to take advantage of consolidation opportunities in the IFA market and currently has a strong pipeline of potential acquisitions that are under negotiation and in due diligence.