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AIM enjoys its least bad month for years

By Tom Winnifrith, The Sheriff of AIM | Thursday 9 March 2017


In February 2017, AIM lost six companies and gained six companies including 1 readmission leaving membership static at 973 companies. To see a month go by without a net loss of companies on "The world's most successful growth market" will be seen as a triumph and the champagne corks will be popping in Paternoster Square.

Two notable departures were China fraud Jiasen International (JSI) and high profile basket case United Cacao (CHOC) . There demise has to be seen as leading to a net improvement in the quality of the market.

The proportion of international companies listed on the AIM index as percentage of total has declined from 22% of all AIM index or 347 companies in 2007 to 169 companies or 17.3% of the AIM index. No doubt the China frauds have contributed to reluctance of investors to support international AIM companies and their departure as well as the demise of a raft of dual listed Aussie and Canadian piss poor resource juniors is no bad thing.

The bottom end of the AIM index i.e. those with a market value below £5 million now comprises 192 companies (up 4 from January 2017) including 21 suspended stocks most of which will never be readmitted. that represents just 0.5% of the AIM index by market cap. If AIM can manage to lose most of that junk and replace it with proper companies of a size that makes listing worthwhile and which generate cash, then it could start to become interesting again.

But there is still a way to go before we reach that point for the casino.

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