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Panmure seals QInvest deal
CITY stockbroker Panmure Gordon yesterday completed a share deal with QInvest that will see Qatar’s largest investment bank take a 47.1 per cent in the firm when its new shares are admitted to trading on Aim this morning.
QInvest subscribed for 67.5m shares in Panmure at 34p a share, raising around £23m of capital for Panmure to grow the business.
Four QInvest executives, chief executive Shahzad Shahbaz, Rommie Bhutani, Asar Mashkoor and Nader Shenouda, have been appointed to the Panmure board.