The Future of AIM

This article was produced by Olswang LLP, which joined with CMS on 1 May 2017.

To coincide with the 20th anniversary of the London Stock Exchange’s AIM, international law firm Olswang has launched the Future of AIM series. From the explosive growth of technology and retail companies listed on AIM to thousands of both domestic and international company IPOs, the Future of AIM examines the past, present and future of companies listed and looking to float on this rapidly growing marketplace.

The Future of AIM event

Over the past 20 years AIM has been the most successful global, small cap market. But what does the future hold for AIM and what challenges and opportunities are there for investors and businesses? To mark the 20th anniversary of AIM, Olswang, Panmure Gordon and BDO held a panel debate on Wednesday, 25 November 2015. We selected a panel of experts including leading fund managers, entrepreneurs and financial journalists to contribute to the debate. The event was introduced by Marcus Stuttard, Head of AIM.

Commentary and analysis

20 years of revolution: what does the future hold for AIM-listed retailers?

Taking AIM: A continually attractive proposition for international companies

AIMing high: top 10 tips to ensure tech IPO success

Infographic: A history of AIM

Olswang and AIM

Olswang’s Equity Capital Markets team provides legal advice to quoted companies, advisors to those companies and companies looking to raise funds on the public markets. Specifically, the team advises on IPOs, secondary offers, takeovers and all other transactions and issues arising from being a quoted company and is experienced in all types of quoted company work involving AIM, as well as the Main Market of the London Stock Exchange.

The team acts for quoted companies across a range of sectors, including the firm’s core Technology, Media, Telecommunications, Leisure and Real Estate sectors. We have also advised a number of international clients looking to raise capital in the UK markets and have extensive experience of advising and assisting Asian clients in relation to their investments in and out of the UK.

Recent examples of high-profile deals we have worked on and/or are currently working on include:

• Advising charity-link mobile group, The People’s Operator plc on its AIM listing in an offering that values the company at £100 million.
• Advising Prezzo plc, the AIM-listed casual dining chain with over 250 restaurants in the UK on the offer for it, by way of a scheme of arrangement, by funds received by the leading private equity group Texas Pacific Group, valuing Prezzo plc in excess of £300 million.
• Advising on the oversubscribed institutional secondary fundraise of £30 million by the telecommunications company CityFibre Infrastructure Holdings plc, following its successful admission to AIM in January 2014 in which Olswang acted as its legal adviser.
• Advising the real estate companies Bradbury Limited and Turnberry 2013 Property Investments Limited on their investment in Safestays plc and the demerger of Safestays plc from Safeland plc and its subsequent admission to AIM.
• Advising Capital & Regional plc, the main market listed specialist retail property company, on its acquisition of further units in the Mall Fund for approximately £213 million in cash (constituting a reverse takeover for Listing Rules purposes) and its related capital raising of approximately £165 million effected by way of a firm placing, placing and open offer.
• Advised Aquatic Foods Group Plc, a marine foods and seafood processor and supplier, on its placing and subscription of 13,226,081 new ordinary shares at a price of 70p per share and admission to AIM.
• Advising S.P. Angel Corporate Finance LLP (as Nominated Advisor) and Beaufort Securities Limited (as Broker) in connection with MySquar Limited's Admission to AIM on 2 July 2015 and Placing of Shares raising £1.67million. MySquar Limited designs, develops and commercialises Myanmar-focused internet-based and mobile services, mobile messaging applications, digital content and mobile games.

Other notable AIM-quoted clients include:

• M&C Saatchi plc
• RWS Holdings plc
• Telit Communications plc
• JQW plc