AIM, the stock exchange’s junior market, had a good April, with its market value creeping close to the £100bn milestone.
Investment management firm Fundamental Asset Management was encouraged to see the market in such good shape.
Fundamental’s co-founder Chris Boxall said: “At the end of April 2017 there were 967 companies on AIM with the total market value of London’s growth market GBP92.83bn. This compares with the same number at the end of March 2017 when the market value was GBP88.78bn; there were 5 departures and the same number of new arrivals. It was encouraging again to see newcomers match leavers
“A notable departure was Sirius Minerals, the fertilizer development company, which moved onto the Main Market.”
“AIM’s total market value hit a high of GBP108bn in July 2007 with 1,673 companies on the market. The market value subsequently fell dramatically in 2008 to only GBP37bn, with the AIM Allshare Index tumbling just over 67% over that period. It will therefore be a huge achievement for AIM to breach the GBP100bn level once again, especially with over 700 fewer companies than previously, yet again highlighting the dramatically improved quality of AIM.”
