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Aim float for Lighthouse

National IFA the Lighthouse Group is to float on the Aim for £20m with a placing of2.5 million shares.

The placing, which will start on October 27, will issue shares at 160p, with the proceeds used to accelerate the expansion of the business.

Lighthouse has 30 IFAs operating from 11 practices but is aiming to increase this to 250 IFAs through 50 practices by December next year.

The flotation has been prompted by Lighthouse&#39s belief that the IFA sector is in a period of growth.

Co-founder and mana-ging director Matthew Gold-smith says: “Our ambition is to become a leading IFA network. The injection of funds from the placing, along with our business model, should enable the management team to build a strong market position.”

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