AIMing for Success: The Strengths of the UK’s Junior Market

London Charles I Statue. Equestrian Statue of Charles I, Charing Cross, London, United Kingdom. London Symbols.

By Sam Pearse and Ashmi Bhagani

Designed primarily for the equity securities of small and medium-sized growth companies that either cannot, or do not want to, qualify for the Main Market, London’s AIM has seen over £110 billion of development capital raised by more than 3,600 companies since its inception in 2005.

However, a wider context of the turbulent pound, the slowdown in worldwide economic growth, global trade tensions and the ever-present Brexit ‘fog’ have taken their toll on AIM, causing a lull in fundraising activity more recently. Yet, looking beyond this Brexit-induced uncertainty, a number of advantages remain and it is useful to consider the volume of secondary issuances on AIM compared to IPOs, as well as broader M&A trends across all markets. 

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About the Authors

Samuel Pearse, a Pillsbury partner based in London, advises clients in the UK and internationally on a wide range of complex corporate and securities transactions. Experienced in M&As, capital markets, joint ventures, investment funds, private equity and finance, Sam advises on cross-border investments, acquisitions, disposals, restructurings, accessing capital markets and corporate issues.

Ashmi Bhagani, a counsel in Pillsbury’s London office, focuses her practice on corporate finance, mergers and acquisitions and investment funds transactions. Ashmi has a broad range of experience in complex cross-border transactions, advising on international equity and debt capital markets financings, mergers and acquisitions, private equity and investment funds and joint ventures.