City executives plot to buy AIM10 Mar 2025 17:40
A new group, which includes the bourse’s former head, is pressuring the London Stock Exchange Group to give up the growth market
A group of investors, brokers and other City executives is set to approach the London Stock Exchange Group with a proposal to acquire AIM, Financial News can reveal, following a tough period for the capital’s junior stock market.
The nine-strong group wants to buy AIM and relaunch the market as the Global Growth Exchange, according to an internal presentation seen by FN.
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“If London has no appetite to support this approach there are multiple alternative international venues available,” the presentation said.
Reuters first reported the group’s formation and strategy. Full details on its membership and specific goals have not previously been reported.
“We plan to discuss the details of our strategy and approach with LSEG soon,” Prideaux told FN.
He added that the group had received “very widespread support” after consulting with brokers, market-makers, fund managers and other interested parties.
“AIM is not for sale,” LSEG said in a statement. “It is a vital component of our strategy to build a funding continuum that is seamlessly connected so that companies can start, grow, scale and stay in the UK.
“Over the past 30 years, AIM has established its position as the preeminent market for dynamic high-growth businesses supported by a remarkable community of companies, advisors and investors.”
The British government and regulators have pushed for urgent reforms to inject more life into London’s stock market after a dearth of IPOs and heavy outflows from UK stock funds in recent years.
LSEG has recently dismissed suggestions to spin-off its flagship bourse to reflect its transformation into a data and analytics behemoth. Equities now makes up less than 3% of LSEG’s revenue.
AIM, which launched in 1995 and caters to smaller companies, has been battered by a wave of delistings as firms cite liquidity issues.
“With New York effectively closed to IPOs for companies with market capitalisations below $5bn, we believe that there’s an opportunity for the London ecosystem to provide a compelling public alternative to many companies worldwide which are currently using private capital to fund their growth,” Prideaux said.
https://www.fnlondon.com/articles/city-executives-plot-to-buy-aim-e5e7de8f