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August 22, 2010

AIM predicted to bottom out at 1,200 companies

The UK’s Alternative Investment Market’s (AIM)
30 month decline will reach its lowest point before the end of the
year, with just 1,200 companies listed, and then begin to grow
again, Deloitte has predicted.

The financial crisis has caused the number of
companies listed on the AIM to drop by almost a third from its peak
of 1,694 in December 2007.

Financial data company Hemscott has been
reporting quarterly that the top four auditors of AIM companies –
Grant Thornton, KPMG, BDO and Deloitte – have been losing
clients.

However, Deloitte capital markets director
Richard Thornhill said there are indications that when the total
number of companies reaches 1,200, the level of activity will
rebound and begin to increase again.

Deloitte’s AIM analysis also found that the
state of the market this year is much better then in 2009.

“The past six months have displayed positive
characteristics compared with those seen this time a year ago, with
a definite uptick in the numbers of companies listing,” Thornhill
says.

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“There has been a steady increase in the
levels of activity with [the second quarter] of this year seeing 18
new listings, compared with just eight in the same period last
year. This is an increase from the 16 new admissions we saw in [the
first quarter.

“This has coincided with the rate of companies
leaving the market slowing in recent times, meaning that we may
shortly see an end to the long decline in the number of listed
companies on AIM.”

 

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