AIM's rehabilitation marked by glowing survey
Reacting against market pressure is proving a growth industry on the stock market and on the Wharf
More proof of AIM’s rehabilitation has come this week as City firm Withers released a survey of chief executives raving about its flexibility and generous flow of capital. One gushes: “AIM gives investors the assurance that their money is being looked after but businesses do not have their hands tied too much.”Not bad for an exchange that only two years ago – admittedly against a backdrop of blue-chip growth stock hysteria – was seen as a bad joke. Such has been the surge of AIM work over the last 12 months that blue bloods such as Ashurst Morris Crisp, Linklaters and Simmons & Simmons have dipped their toes into the water. And why not? It is hard to escape the conclusion that the Taylor Joynson Garretts, Nabarro Nathansons and Osborne Clarkes of this world have done nicely from their new enthusiasm for the UK’s junior exchange. Even drawbacks such as AIM’s lack of liquidity appear a boon when institutional investors are buffeting tech and telecoms stocks on the world’s main exchanges.How long before other law firms, realising that those international deals are getting further out of their reach submit to AIM’s tender embrace?
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