Alpha FX raises £20 million in secondary share offering

alpha fx group plc lse listing

Corporate foreign exchange specialist Alpha FX Group plc (LON:AFX) has announced that the company has raised a total of £20 million (USD $26 million) through the issue of an aggregate of 3,218,602 new ordinary shares at a price of 620 pence per share.

The company said that the share placing attracted strong support from high quality institutional investors. The placement was done at a slight (3.1%) discount to Alpha FX’s closing share price from yesterday (£6.40).

The placing was conducted by way of an Accelerated Book Build process. Liberum Capital Limited acted as Sole Bookrunner.

Alpha FX reported 50% revenue growth in the first half of 2018, after posting 60% revenue growth last year. In a Trading Statement made at the end of September, Alpha FX indicated that trading for the month of September was particularly strong as the positive impact from investments made in the first half had begun to accelerate. And, that the company’s Board anticipates that the results for the full year ending 31 December 2018 will be ahead of current market expectations.

Alpha FX is controlled by Founder and CEO Morgan Tillbrook.

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