UK - AIM sees worst quarter for three years

AIM's blistering pace in attracting new admissions and in achieving record fund-raising levels took a major pause for breath during the first quarter of this year, according to research by Grant Thornton Corporate Finance. In the first three months of 2007, AIM has recorded 51 admissions so far (with a further seven scheduled to happen tomorrow), while new funds raised have so far amounted to £1,017 million (with a further £129m scheduled to be committed tomorrow). In terms of admission levels, Q1 2007 ranks as the worst performance in three years (since Q1 2004, 53 admissions) and represents a drop of over 50% compared to this time last year (Q1 2006 - 121 admissions). In terms of fundraising levels, while raising over £1bn in three months remains a respectable result, it represents the worst performance in two years (since Q1 2005 - £370.3 million) and a 44% reduction on Q1 2006 (£2,052bn).