News blog
Panmure Gordon
- BY: Andrew Hore |
- POSTED: 18/08/2008 |
Arab investment bank EFG-Hermes is taking a 9.06% stake in Aim adviser Panmure Gordon.
EFG-Hermes is paying 47p a share for its stake, which will raise £3.16m for Panmure Gordon. The shares recovered 3.5p to 50p, following the announcement. That is just over one-third of the 12 month high of 147.5p.
Panmure Gordon believes it will gain access to EFG-Hermes’ clients in the Middle East and North Africa. EFG-Hermes will also gain access to Panmure Gordon’s client base.
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