The AIM market, or Alternative Investments Market, was launched in 1995 as a sub-market to the London Stock Exchange. It should not be confused with OFEX, an independent exchange operated by Plus Markets Group that caters for smaller transactions and largely illiquid stocks.
The AIM market has been very popular with both issuers and investors...
Over 2,700 companies having raised over £19 billion ($38 billion). Of this £2.2 billion ($4.4 billion) raised by 250 international companies. AIM targets companies of £10-150 million ($20-300 million) value that seek to raise £2-20 million ($4-40 million). Compared to the primary exchange, AIM offers lower listing fees and ongoing compliance costs; looser listing requirements (e.g. no trading record, no minimum shareholding issuance or capitalisation); and investor tax benefits associated with unquoted investments.
As a guideline, listing on AIM would cost an issuer a one-off fee of £300,000 (e.g. advisors, exchange fees) plus financing costs (2 to 5+%, dependent on the amount raised) and likely have a minimum annual compliance cost of £50,000.
The AIM website provides various useful guides, including joining AIM, AIM benefits to UK companies and AIM benefits to non-UK companies.
The London Stock Exchange publishes Excel of PDF statistics - including new listings, trade volume summaries - for both the Official List and the AIM market.
Growth business, a website produced in partnership with the London Business School, publishes a list of recent AIM deals; a list of nominated advisors (NOMADs); and a list of AIM brokers. Advisor/broker firms include Baker Tilly, Teather & Greenwood, Fiske plc, Blue Oar Securities and Collins Stewart.
Wikipedia provides a useful overview of the AIM market.
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