UBS Investment Bank has purchased over two million shares in Ashcourt Rowan to take their stake in the company to nearly 10%.

The 2.3 million shares were bought at a share price of 192p, making the purchase worth a total of £4.42 million. Subject to approval by the FCA, the deal will add five offices to the company and £1.3 billion in assets under management.

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This follows the recent news that Ashcourt Rowan has entered an agreement to acquire UK Wealth Management (UKWM) for £14.25 million.

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