The Alternative Investment Market, the stock market for small-cap companies, is experiencing record growth in 2004, with six-months figures already bettering fundraising for the whole of last year, according to Grant Thornton.
Link: AIM set for Australian invasion
The firm analysed data for the first six months of 2004 and found that AIM fundraising was at its highest since the market was established in 1995.
During the second quarter of 2004, AIM experienced growth of 427% in the number of new issues compared to the same period last year with money raised for new issues set to total in excess of £556m.
Even more staggering is its achievement of having already passed the £1bn fundraising level for the first six months of the year, an amount which is more than the new issues fundraising for the whole of 2003.
‘Over the past year, AIM’s international strategy has moved in leaps and bounds, first by establishing the new designated market rules to facilitate international admissions and then by turning overseas interest into tangible listings,’ said Philip Secrett, a partner at Grant Thornton Corporate Finance.
‘Given AIM’s performance for the year so far, and looking ahead, the market is showing clear signs of indigestion and even signs of new issues.’
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