Secondary offering

Secondary offering

This overview is a guide to the Corporate content within the AIM—Secondary offers subtopic, with links to the appropriate materials.

A company admitted to trading on AIM, a market operated by the London Stock Exchange plc (LSE) may raise further capital by way of a secondary offer of its shares (also called a secondary or further issue).

Regulatory background

AIM is a market operated and regulated by the LSE in its capacity as a recognised investment exchange under the Financial Services and Markets Act 2000 (FSMA 2000). It is intended primarily for the trading of equity securities of smaller and growing companies. AIM is regulated separately from the Main Market for listed securities. The LSE publishes the AIM Rules for Companies (AIM Rules) which regulate admission to AIM and the continuing obligations of a company admitted to AIM. AIM is not a UK regulated market but instead falls within the definition of a UK multilateral trading facility (as defined in the FCA Handbook glossary and in the UK Markets in Financial Instruments Regulation (EU) No 600/2014).

AIM is also registered as an SME growth market.

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