More NewsNomads are drifting away from Aim companies

Nomads are drifting away from Aim companies

Tighter rules mean fewer firms are acting as nominated advisers and charging more for the service

The number of firms serving as nominated advisers (nomads) to Aim-listed
companies has dropped by nearly a fifth since the introduction of tighter rules
on the exchange.

The total number of nomads dropped from 85 to 71 following the introduction
of the new rulebook and fees have as much as doubled from last year, according
to the Financial Times.

Annual fees for an ongoing nomad service for a £50m company are now between
£50,000 and £75,000. The tighter rules have meant many firms feel the service
has become more time consuming and less profitable, however consolidation in a
tough economic climate is also to blame.

Further reading:

Smaller
companies suffer rising costs of AIM listing

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