The Alternative Investment Market (AIM) is attractive to companies and investors because of its lighter regulations and soaring stocks compared to the London Stock Exchange.
Activity has more than trebled this year compared to last, according to Manchester law firm Rowe Cohen. The first quarter of 2004 generated 45 AIM initial public offerings (IPOs), raising 533 million. During the same period last year only nine IPOs were completed raising just 7.5million
The amount raised in the first quarter of this year exceeds the entire sum raised on AIM in 2002 (490 million) said Andrew Curwen, corporate partner at Rowe Cohen:
AIM listed companies benefit from less cumbersome redtape and a more flexible market. Corporate finance advisors are advising clients they have a choice, whereas a few years ago, the choice was less obvious. Investors have also helped boost the market as confidence in other markets falters. I expect to see continued, steady growth in the number of companies in the region floating on AIM in the next twelve months.
North West companies joining AIM this year include cash machine operator Cardpoint, sweet firm Glisten and Chinese food firm Readybuy.
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