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Beverly Chandler

Harwood Wealth launches on AIM

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UK-based financial planning and wealth management group, Harwood Wealth, has started trading on AIM under the symbol ‘HW’.

 N+1 Singer is acting as nominated adviser and sole broker to the company and has raised GBP13.5 million (subject to Admission and before expenses) in an over-subscribed fundraise, of which GBP10.0 million was raised as new equity for the company. The firm writes that the net proceeds will be used principally to provide funds for further acquisitions together with modest associated infrastructure costs.
 
Neil Dunkley, Founder and Joint Chief Executive Officer of Harwood Wealth, says: "The Board is delighted to have successfully completed the IPO and raised funds to facilitate the next stage of the company's development through further acquisitions.  The UK wealth management industry is undergoing a number of changes that have made it very fragmented providing us with an attractive marketplace for consolidation. We look forward to providing our new shareholders with further updates as we achieve further growth."
 

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