22 Jun 2015 09:27am

AIM raises £2.3bn

AIM has more than its 20th anniversary to celebrate, according to research from UHY Hacker Young

The alternative market for growth companies saw the number of IPOs reach 81 last year (up from 75 in 2013), raising a total of £2.3bn – more than twice as much as in 2013 (£911.3m).

Market entrants included online fashion retailer which raised £60m, medical equipment supplier Medaphor (£128m) and Dalata Hotel Group (£193m).

Over the same time, the cost of listing on the market, including professional fees to nomads, legal advisers and auditors plus commission for placing shares, fell to 7.4% of all funds raised (v 9.5% in 2013).

UHY says that the fall was driven partly by a rise in the number of larger value IPOs which benefit from economies of scale in fees.

“It is important for UK plc that the cost of listing on AIM is kept down to a sensible level,” said UHY partner Laurence Sacker.

“The market is demonstrating its ability to support larger IPOs. There is appetite there for companies with ambitious growth plans.”

He added that the lower the cost of professional fees as a percentage of IPO proceeds plus a less restrictive regime made AIM even more attractive to growing companies as a fund-raising option.

Julia Irvine


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