As a regulated market under MiFID II, SFS is dedicated to specialist, closed-ended investment funds targeting institutional, professional, professionally advised and knowledgeable investors.
AIM is an exchange-regulated market; suitable for commercial companies and straightforward investment structures seeking a broad investment audience including institutional and retail investors.
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.
|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|
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|