IPO activity increases in Q1 2004

Philip Secrett, a partner at Grant Thornton Corporate Finance, has asserted that the first quarter of 2004 has seen the AIM market return to the booming levels of activity last seen in 2000 during the dotcom boom. According to Grant Thornton statistics AIM has experienced a strong increase of 140% (from 22 to 53) in the number of new issues compared to the same period last year. Fundraising activity also returned to bumper levels with new money raised on AIM totalling £492m, a 22-fold increase on the first three months of 2003 (£21.4m), and an amount which represents almost 45% of new issues money raised during the whole of 2003.

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