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Falcon gets set to swoop on Aim

Falcon Group says it is preparing for a listing on Aim as soon as the FSA&#39s consultation process clarifies how the market will look.

The company, which has been a strong defender of polarisation, says it needs City cash to increase its IFA numbers from the present 100 RIs to between 200 and 300 in the next two years but will wait until things are clearer before taking this step.

Chief executive Allan Rosengren wants to raise cash from institutions as he believes selling stakes to providers can compromise inde- pendence.

The firm increased turnover in 2001 by over half to £6.85m from £4.4m in the previous year and made a profit of £341,884.

Rosengren says Falcon expects to float 20 to 25 per cent of the company to raise cash for expansion and is planning growth through acquisition and by achieving economies of scale through strategic partnerships.

Some City analysts have expressed reservations over investor interest in the sector, and Rosengren agrees that the move will depend on market confidence.

He says: “We are certainly in discussions regarding Aim listing. It is much better to expand as a public company.

“The decision about when to list will be dependent on market confidence and the outcome of CP121.”

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