Problem not SBTX but rather AIM16 Oct 2025 08:39
Perhaps SBTX should relist in US or look for FTSE shell.....
This is what chatGPT says:
What the evidence shows: decline
Falling number of listed companies
The number of companies on AIM has dropped sharply: from a peak of about 1,700 in 2007 to around 695 (or even 679 in some reports) in recent data — its lowest level in over 20 years.
Over the past year (or more), dozens of companies have delisted. E.g. 92 companies left in one 12-month period.
Weak IPO (initial public offering) activity
Very few new companies are coming to AIM. Some years saw only 10 IPOs or fewer.
The funds raised via IPOs have been much lower than in boom years.
Liquidity, trading and valuation issues
Many AIM-listed companies suffer from low liquidity, meaning it's harder for investors to buy/sell without big price impacts.
High costs of being listed and maintaining a listing (audit, regulatory burdens, etc.) have been cited repeatedly by companies that delist.
Performance over recent years
The FTSE AIM 100 (largest 100 AIM stocks) has underperformed materially: e.g. a ~30% drop over 3 years, significantly worse than comparable small-cap indices in the UK.
Some dimensions (e.g. number of “large” companies, over £1bn market cap) have shrunk sharply — only a handful remain.
Changes to tax/tax relief policies (notably inheritance tax relief for AIM shares) have created uncertainty, reducing incentive for investors.
Broader economic and regulatory trends, such as rising interest rates, risk aversion in small-cap stocks, competition from other markets (including US and Europe), etc.
Signs of recovery or counter-trends
It’s not all negative; there are glimmers of potential revival:
Increase in IPOs: AIM had just 9 IPOs one year, then around 16 in another period (2024/25), indicating some rebound in listing activity.
Fundraising via secondary issues: There's evidence that fundraising (both IPOs + secondary issuance) in recent months has improved, matching or approaching totals from whole previous years in some metrics.
Regulatory efforts: Authorities are aware of AIM’s struggles. There have been regulatory reviews, proposals to cut red tape, and discussion of measures to make AIM more attractive.
Key drivers of the decline
Putting together what the reports show, the decline seems driven by:
The costs and burdens of being listed vs the benefits. Many smaller firms conclude the trade-offs don’t work: the regulatory and compliance costs, plus difficulty in raising capital, outweigh the visibility and access benefits.
Lack of investor appetite, especially institutional investors, for small and high-risk companies. Liquidity is weak, valuations are under pressure.
Tax policy risk, especially inheritance tax relief, which has been a selling point for many investors in AIM-quoted companies. Threats to reduce or remove reliefs have reduced incentives.
Competition from other capital markets and private markets. Some firms prefer raising
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