London Stock Exchange: AIM
London Stock Exchange: the difference between AIM and the Main Market
Guide
If you are interested in floating your business on a stock market but feel that AIM is not the correct market for your company, you could consider the London Stock Exchange Main Market. The Main Market is usually reserved for more established businesses and has more stringent admission criteria and more demanding ongoing obligations.
Admission criteria differences - AIM and the Main Market
| AIM | Main Market |
|---|---|
| AIM
No prescribed level of shares to be in public hands |
Main Market Minimum 25 per cent shares in public hands |
| AIM No trading record requirement | Main Market Normally three year trading record required |
| AIM No prior shareholder approval for most transactions* | Main Market
Prior shareholder approval required for substantial acquisitions and disposals (Premium Listing only) |
| AIM Admission documents not pre-vetted by the Exchange nor by the UKLA in most circumstances | Main Market
Pre-vetting of the prospectus by the UKLA |
| AIM Nominated adviser required at all times | Main Market Sponsors needed for certain transactions (Premium Listing only) |
| AIM No minimum market capitalisation | Main Market Minimum market capitalisation |
| AIM, Main Market
*Unless the transaction is a reverse takeover or disposal resulting in a fundamental change of business |
|
For further information see London Stock Exchange: Main Market.
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