In this article, Joseph Brewer, a partner in our listed audit team, reviews the latest statistics and trends on the AIM market. As a specialist adviser to AIM listed businesses, Gravita acts as auditor AIM listed businesses with a combined value of over £500m.
Small cap businesses remain the lifeblood of the AIM market, with 64% (444 of 695) of businesses on AIM having a market capitalisation of £50m or below at September 2024. In the micro-cap space, there were 138 companies with capitalisation below £5m, representing 20% of the number of companies in the market.
The market continues to enable fundraising to help growth-oriented businesses to reach new markets and expand operations; with £808m raised in new share issues so far in 2024 to date with average proceeds of £902,000.
The number of companies listed on AIM at September 2024 was 695, which is 999 fewer than the peak of 1,694 in 2007. The trend continued in September with only one new admission but ten cancellations.
Whilst compliance costs and share price weakness have created challenges, the market remains an active one for IPOs, with 14 new listings in 2024 year to date, raising £295m in new capital.
What next?
Although the overall value of the AIM market is at its lowest in a decade, there is still significant activity and ample opportunities for businesses seeking growth funding. Gravita is well-positioned to support AIM-listed companies on their growth journey, offering cutting-edge audit technology, extensive knowledge of the challenges faced by AIM-listed businesses, and a truly partner-led service.
For further assistance, please contact Joseph Brewer, an audit partner in our London office.
