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LSE expects 10 India-focused AIM listings in 2008

LSE expects 10 India-focused AIM listings in 2008
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First Published: Sun, Feb 17 2008. 01 02 PM IST
Updated: Sun, Feb 17 2008. 01 02 PM IST
PTI
New Delhi: Alternative Investment Market, an arm of the London Stock Exchange, is looking for about nine or 10 India-focused companies to come to its fold in 2008 and three of them expected in the current quarter alone.
“Three India-focused companies are expected to get listed on the AIM market in the January-March quarter, while optimistically 9-10 new India-centric companies could be floated in 2008 with conservative issuances,” London Stock Exchange senior manager (India & International business development) Ibunkun Adebayo told PTI.
“The average which an India-focused firm could raise form a listing on the AIM is $50 million,” he said.
In 2007, as many as nine India centric companies were listed on AIM in 2007 raising a total of $846 million, as per a fact sheet by London Stock Exchange.
Some of the companies that got listed on AIM last year include UTV Motion Pictures, Dev Property Development, Evolvence India, Promethean India and Indian Film Co.
“We remain bullish for the prospects of Indian companies getting listed on AIM market as they hold huge potential for growth,” Adebayo said.
At present, there are 22 India-focused entities on AIM.
Further, for all the Indian firms that have been listed on AIM, infrastructure and media sectors have emerged as the most sought after sectors.
“The sectors which are among the most followed on the AIM currently include infrastructure, media and banking, although the sector preferences of global investors may change unannounced,” Adebayo added.
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First Published: Sun, Feb 17 2008. 01 02 PM IST