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Asset management consultancy firm MJ Hudson provided a boost to the final year figures for AIM listings in 2019 with a successful float on 12 December, valuing the company at approximately £97.6 million on admission.
The company is the tenth to list on AIM this year after an exceptionally quiet period which has seen deal volume decrease by around 75% in comparison to 2018. Such poor investor appetite for IPOs on AIM has not seen since 2009, where only 13 companies were admitted to trading on the junior market. However, despite recent weak trading volume, MJ Hudson’s CEO remained optimistic, announcing that ‘with the global Alternative Investment market forecast to exceed $20trn in the next five years, we see a significant opportunity to grow our business through a public listing.’
Main Market activity also picked up this week, with the announcement of an IPO by British Virgin Islands-based company Everarc Holdings and the admission to trading of precious and base metals explorer and developer Adriatic Metals, which was already listed on the Australian Stock Exchange. It has been suggested that the increased costs and regulatory burden associated with listing on AIM may be attracting companies to list on the standard segment of the Main Market instead, and is worth noting that both companies sought a listing on the standard segment, which has been the preferred segment for around 30% of all companies admitted to trading on the Main Market during 2019. For an overview of the eligibility requirements for a premium listing, a standard listing, the High Growth Segment and AIM, see our checklist (a subscription to Lexis®PSL Corporate is required).
Market Tracker will look in more detail at IPO deal volume, deal values and company performance in our Equity Capital Markets annual review, to be released during Q1 2020.
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Market Tracker is a unique service for corporate lawyers housed within Lexis®PSL Corporate. It features a powerful transaction data analysis tool for accessing, analysing and comparing the specific features of corporate transactions, with a comprehensive and searchable library of deal documentation across 14 different deal types. The Market Tracker product also includes news and analysis of key corporate deals and activity and in-depth analysis of recent trends in corporate transactions.
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