Scots firms urged to consider joining Aim

Fast-growing firms north of the Border have been urged to consider joining London’s junior Alternative Investment Market (Aim), which marks its 20th anniversary this month.

Neil McGill of adviser BDO. Picture: Rob McDougall

Analysis by accountant and business adviser BDO has shown there are currently 1,074 Aim-quoted companies, with a combined market value of more than £75 billion, but only 26 are from Scotland.

Corporate finance director Neil McGill said: “Listing on Aim is not a particularly well-trodden path in Scotland, yet it can be an excellent source of funding for dynamic businesses seeking a high profile and greater credibility. The market provides an external proof of performance and, whilst no-one would deny that running a listed company brings it challenges, it can also be extraordinary for the best-managed firms.”

The company with the largest market capitalisation on Aim is online fashion retailer Asos, worth more than £3bn, while Glasgow-based energy meter supplier Smart Metering Systems is in the top 50, with a market value of almost £300 million.

Since Aim was launched on 19 June 1995, there have been 3,602 listings raising a total of £92.2bn, BDO said. The Scottish firm with the longest listing is Caledonian Trust, which joined the junior market on 29 September 1995.

McGill added: “There is a substantial amount of cash available for the right firm – listing on Aim should at least be considered by any ambitious business. It is, I believe, important for Scotland to grow the number of listed firms in the future.”