Cenkos, the mid-market securities boutique floated by Andy Stewart less than 18 months ago, is planning its biggest equity offering to help fund a takeover of Close Brothers that today moved a step closer to becoming the first large European financial acquisition this year.

Cenkos, led by Andy Stewart, co-founder of UK broker Collins Stewart, has been eyeing an unsolicited joint bid with Icelandic bank Landsbanki for Close since November, but the pair’s initial approach was rejected by Close.