Worst year for fundraising in 2003
AIM is on course to suffer its worst annual fund-raising performance since 2003 after October proved to be the poorest month in the year to date.
No new companies floated on Aim last month and only £127million was raised by firms already listed on the market.
That was 80 per cent down on the £637million raised in the same month last year, according to broker Allenby Capital.
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The firm blamed the eurozone debt crisis and corporate failures such as MF Global for the poor showing. “Barring a strong finish, 2011 could well prove to be the first year since 2003 with less than £4billion raised on Aim,” Allenby said.
So far new and further cash calls have raised only £3.6billion, compared to nearly £7billion last year. There have been 39 Aim floats, raising £453million, an average of £11.6million.
Aim is on course to suffer its worst annual fund-raising performance since 2003
The largest new fundraising was British oil group Trap Oil, which raised £60million and had a market value of £78.3million when it floated in March.