James Hay parent IFG Group’s share price has rocketed since a potential sale of the platform was announced last month.
At the end of March, IFG said it had reached a sale agreement with private equity firm Epiris that will see the firm valued at £206m.
IFG, which also owns national advice business Saunderson House, will sell its entire share capital to Epiris.
Stock exchange records show IFG’s share price rose from around 135p per share on 19 March to 190p per share after the deal was announced on 25 March, and has remained around that level since then.
A shareholder approval meeting is scheduled for 9 May, Money Marketing understands.
Stock exchange filings from this morning also show that IFG Group has upped its stake in the Master Fund and Tactical Fund at Sand Grove, the Mayfair based hedge fund launched by the former head of Cheyne Capital’s event-driven team Simon Davies in 2014.
IFG now owns a 10.08 per cent stake in the funds, up from 8.89 per cent.