Routes to market for listing single assets

Markets available for listing single assets

Specialist Fund Segment (SFS) of the Main Market

As a regulated market under MiFID II, SFS is dedicated to specialist, closed-ended investment funds targeting institutional, professional, professionally advised and knowledgeable investors.

 

Key attributes

  • Lower free float requirement
  • No requirement to spread risk
  • Flexible voting structure

 

Alternative Investment Market (AIM)

AIM is an exchange-regulated market; suitable for commercial companies and straightforward investment structures seeking a broad investment audience including institutional and retail investors.

Key attributes

No minimum track record requirement, but all listing companies must demonstrate appropriateness to join a public market.

 

Description Specialist Fund Segment AIM
Structure Closed-ended Investment Fund

Operating Company/ Closed Ended Investment Fund.

An AIM Investing Company must have a structure that is straightforward and not complex. Minimum equity fundraising of £6m.

Domicile Any Any
Regulation Regulated Market MTF (SME Growth Market)
Minimum Freefloat No prescriptive freefloat No prescriptive freefloat – guidance on free float available.
Revenue Criteria Not Applicable Not Applicable
Admission

Request for admission to trading to exchange 

UKLA Approved Prospectus

AIM Admission Document & Nomad declaration 
Sponsor/Nominated Adviser Not applicable Nominated Adviser on admission and on a continuing basis.
Corporate Governance Corporate Governance statement Corporate Governance Statement against a Recognised Corporate Governance Code
Related Party Transactions As per Prospectus Regulation Applicable as per AIM Rules for Companies
Cancellation No shareholder approval required 75% shareholder approval
Indices Not applicable FTSE AIM Series, where eligible

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