Douglas, Man, Isle of, September 10, 2010 --(PR.com
)-- “This means that international companies on the Isle of Man will no longer have to rely on legal and financial advisers based in the City when preparing for a flotation on the Alternative Investment Market or the relatively new Plus market,” said ICM group director Mark Byrne.
“The alliance will also enable any newly listed company to benefit from the many legislative and corporate advantages that result from establishing a listed entity in the Isle of Man. The Island is by far the leading jurisdiction for foreign trading companies looking to access London’s capital markets due to a number of distinct advantages.”
The launch comes at a time when AIM is showing signs of a resurgence after a period in the doldrums during the recession with a number of new companies starting to trade during July and more expected to do so in August. Since its launch in 1995, over 3,000 companies have joined AIM – raising more than £60bn in new and further capital fund raisings.
The PLUS Market is London’s new, independent stock exchange that is seeking to create the deepest pool of small and mid-cap liquidity in Europe. It is a disclosure based market which is dedicated to the needs of small and medium sized companies, especially when regulation is involved.
Mark Dougherty, of Dougherty Quinn said: “The alliance is most definitely beneficial from an Isle of Man perspective as it offers a full service to companies which have traditionally looked beyond the Island for advisers capable of handling a flotation on one of the markets.”
He added: “We believe there is renewed interest in AIM and as an alliance we are gearing up to be ready for some increased activity in the months ahead.”