Press releases 2002
14 March 2002
LONDON STOCK EXCHANGE SEEKS SMALLER, GROWING COMPANIES IN NEW ZEALAND
The London Stock Exchange will be in New Zealand next week to promote AIM to New Zealand companies and advisers. AIM is the Exchange's popular international market for smaller, growing companies. Simon Brickles, Head of AIM at the London Stock Exchange, will be visiting at the invitation of the National Press Club and the British New Zealand Trade Council.
Since it was created in 1995 more than 850 companies have used AIM as a vehicle for growth with more than NZD 24 billion raised on the market. Individual market capitalisations on AIM typically range from NZD 15 million to NZD 350 million. AIM is not a sector dependent market and welcomes appropriate companies from all sectors.
Last year, when most world markets were quiet, AIM alone experienced a remarkable 94 Initial Public Offerings (IPOs), representing over one third of all IPOs in western Europe for the year. The market is increasingly viewed as a dynamic home for small companies from across the world.
Originally conceived as a domestic market, AIM proved so successful that at this time last year the London Stock Exchange took steps to make it more accessible to international companies. AIM already enjoys 41 international companies and many more are anticipated. Recent marketing trips have included Australia, Canada, Ireland, Israel, Scandinavia, Germany and the United States.
London has more funds available for international companies than any other financial centre and Brickles will be seeking suitable companies and advisers from New Zealand to join the market.
The London Stock Exchange is keen to emphasise that it sees an AIM quotation as complementary to local markets rather than competitive with them. Brickles states, "AIM offers smaller, growing companies in New Zealand the opportunity to raise funds in Europe, to gain a wider pool of investors and liquidity whilst enjoying the benefits of being on a local exchange too".
- ends -
Information about AIM can be found in the AIM section of our website.
For further information, please contact:
Press Office, London Stock Exchange
Tel. +44 20 7797 1222 (UK)