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| Indian, non-UK companies to lead AIM recovery: Grant Thornton |
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The Alternative Investment Market (AIM), an arm of the London Stock Exchange, is well-positioned to weather the current economic downturn thanks to the large presence of Indian and other non-UK companies, says a report. "One of its key strengths of the AIM lies within the diversity of its companies - they are spread across many sectors and many of which have global operations, meaning that they rely on a broad range of economies around the world," says the report by global consultancy firm Grant Thornton. It says an improvement in fund-raising conditions is most likely towards the end of 2009 and through 2010. Over the past few years there have been an increasing internationalisation of the AIM, with as much as 55 per cent of total market capitalisation made up by companies with international operations in 2008. At the end of December 2008, 317 non-UK companies from 31 countries (defined by country of incorporation) listed on AIM, representing around 20.5 per cent of all companies listed. Notably, non-UK companies on AIM are bigger than UK companies, with an average market capitalisation of £44.5 million compared with £19.1 million for UK registered companies, Grant Thornton said. As per an analysis of non-UK firms by the country of incorporation about 595 AIM companies (38 per cent) are international and represent 55 per cent of the market-cap. Some 34 companies have India and Bangladesh as their country of operation, and have a total market-cap of £1840.2 million and an average market cap of £54.1 million. - PTI. All rights reserved. Related Articles:
Last update: 01-07-2009 22:30
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