Alpha Growth PLC (LON:ALGW) (OTCQB: ALPGF) CEO Gobind Sahney tells Proactive it is acquiring an unnamed Bermuda-based insurance company supported by an oversubscribed £3.75mln share placing.
Sahney says the financial services and asset management group represents a significant building block in the company's continued evolution. Once the transaction completes, Alpha will have around US$300M assets under management compared with just US$10M at the start of last year.