US billionaire slams 'dangerous' AIM
Wilbur Ross, the billionaire US investor, sounds AIM danger warning
Influential US investor, billionaire
, has warned that London’s AIM market is dangerous because of its low
corporate governance standards.
Speaking to the FT
, Ross said AIM was in danger of attracting ‘the wrong kinds of
‘It clearly is a dangerous one – I think it is no accident that quite a few
of the companies have fallen far short of the business performance that had been
forecast at the time of their launching,’ said Ross, who has made his fortune by
investing in unfashionable sectors like steel and car parts.
Ross’s comments follow similar criticisms of the AIM market from senior
SEC official Raul Campos who
described the junior London market as a ‘casino’, although he did later say that
this remark had been taken out of context.
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