Newly-formed Cavendish Financial reports post-merger progress

(Sharecast News) - Newly formed investment firm Cavendish Financial updated the market on its trading on Friday, reporting rapid and strategic post-merger developments. The AIM-traded company, which was holding its annual general meeting, is formed of finnCap Group and Cenkos Securities, which finalised a merger on 8 September.

It said post-merger progress had been swift and strategic, with the entire Cenkos team from London transitioning to the main London office.

Additionally, Cavendish introduced its new branding, streamlined trading processes onto a singular platform, and achieved significant headway in IT amalgamation.

A crucial aspect of the merger, the operations team integration - fundamental for harnessing synergies - was also on the brink of culmination.

Cavendish said shareholders could expect further details on synergy outcomes with its maiden interim results, set for release in December.

"Trading across the City has been quiet during the summer, but since merger completion, the group has already announced a number of significant transactions which will close in the coming months, including acting as sole adviser to Round Hill Royalty Fund on its offer from Concord Cadence, fundraisings for Haydale Graphene and Shield Therapeutics and obtaining key regulatory clearances for the equity financing of Allergy Therapeutics by ZQ Capital and Southern Fox," the board said in its statement.

Reporting by Josh White for Sharecast.com.