Investors have questioned the influx of overseas-based companies to AIM.
Research from Baker Tilly suggested that some AIM investors believed that the
quality of the junior exchange had been dented by the number of foreign IPOs.
Baker Tilly’s head of capital markets Chilton Taylor said: ‘AIM has excelled
in its ability to attract international companies, but in order to build on
this, all market participants must seek to ensure that the quality of companies
coming to AIM is maintained.’
Baker Tilly’s research showed that 12% of those polled thought the increased
number of overseas companies was a factor in contributing to AIM’s stunted
performance in 2006.
Of a sample of 51 institutions, 49% cited the globalisation of AIM as
generally detrimental. Not surprisingly, companies listed on AIM did not agree,
claiming that globalisation has been a benefit to the growth market.