Jelf raises £19m

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Yate-based broker the Jelf Group has raised £19m from a mixture of institutional investors, private equity house Capital Z and its directors.

After announcing an operating loss for 2009, Jelf has raised £19m via a share placing for a mixture of paying down debt, investment and acquisitions. Some of its existing institutional shareholders have given money as well as Capital Z former backers of SBJ which was sold to Axa. Capital Z has bought out 3i's 25% stake in the broker.

For more details see the London Stock Exchange website.

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