AIM faces trading volume cliff as three most active stocks exit

(Alliance News) - The three most active stocks on the AIM market in London are set to depart all at once, potentially leaving a gap in trading volume for the junior market, the March edition of AIM Journal noted.

Clinigen Group PLC, Blue Prism Group PLC and Asos PLC all are leaving for different reasons, but their timing is within just a few months of each other.

Clinigen is a Burton On Trent, Staffordshire-based pharmaceutical services firm. It is being acquired by funds managed by Triton Investment Management Ltd. The GBP1.3 billion acquisition is likely to complete in early April, and Clinigen shares are due to be cancelled on AIM on April 5.

Blue Prism is a Warrington, England-based robotic process automation firm. In January, its shareholders backed a GBP1.24 billion takeover offer by SS&C Technologies Holdings Inc. The deal is expected to become effective during the first or second quarter of this year, at which point the stock will be delisted.

Asos already has left AIM. The London-based online fast fashion retailer moved to the London Main Market at the end of February after 20 years as an AIM stalwart. Asos said it wanted to finally make the move in order to support its growth strategy over the next three to four years.

In January, the trio were the three most traded stocks on AIM in terms of value of trades, AIM Journal noted. At GBP1.17 billion, the value of trades in the three stocks was 15% of the total for AIM.

Even in February, with Asos shares not even listed for the full month, the value of the trades in the three stocks was GBP991.6 million, 14.5% of the total.

By Tom Waite; thomaslwaite@alliancenews.com

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