Norman Broadbent up after successful share placing

Executive search firm Norman Broadbent rose strongly after it announced the successfully placed over two million new shares.

The company said it had raised £742,560, which would be invested into three new business development ventures.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

The latter enterprise will provide direct solutions to in-house recruiters and a personal brand consultancy in social media profiling.

The group is also buying 51% of Brussels-based recruitment firm Acker Deboeck for £250,000.

Pierce Casey, Norman's Executive Chairman, said investment in these new companies represented a significant step towards the firm's objective of building a group of complimentary, human capital businesses.

"The Norman Broadbent executive search brand remains core to the group, but with these investments we have the opportunity to diversify into the upper end of the high volume recruitment market as well as building the board level leadership consultancy business in the UK and Europe," he added.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.