Allenby Capital reports AIM Activity through end April 2022 – Markets quiet but not shut

After AIM’s biggest year for fundraises since 2007, 2021 was always going to be a hard act to follow. 2022 has so far been quiet but the market isn’t shut with funds still being raised for attractive opportunities.

  • £99.7m of new money was raised on AIM through to the end of April 2022 across 11 new joiners to the market, this compares to the £598m raised during the comparable period in 2021 from 21 new joiners.
  • The secondary fundraise market has fared better as already listed companies have still been able to access the markets.
  • £936m was raised through secondary fundraises on AIM in the first four months of 2022, a healthy figure but down on the £1.92bn raised in the comparable period in 2021.

The number of companies on AIM has fallen from 852 at the start of the year to 842 at the end of April.

Those leaving the market included 10 AIM companies being acquired as AIM continues to be a shop window for both Private Equity and Industry buyers.

The average bid premium (bid price to prior night closing price) of the acquisitions announced so far in 2022 is +45%.

A rotation away from sectors such as Tech and Consumer Products into Natural Resources on the back of commodity price rises led to a rebalance of sector weightings.

The market capitalisation of Oil & Gas companies increased to 6.3% of AIM’s market cap from 3.9% in December 2021, and the market cap of the Mining Sector increased to 7.5% from 5.8% in December 2021.

The average mkt cap. of all AIM companies is currently £145m, significantly above the £64m average of a decade ago in April 2012.

Download note from Allenby here

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