Owned and operated by the London Stock Exchange but less heavily regulated than the full list or New York’s Nasdaq, Aim is focused on growth stocks, making it ideally suited to independent producers.
“A lot of the unlisted indies are seeing companies go to Aim, so they automatically think that’s the market for us because our peer group is there,” says Patrick Yau, an analyst at Bridgewell Securities, which advised Shed on its listing. “Indies are small companies, and Aim is probably the best market for that because they’re alongside companies of a similar market cap.”
Since coming to the market in May, RDF has snapped up Scottish indie IWC for £14 million ($24.2 million) and taken full control of joint ventures Touchpaper and Radar, while Shed is paying up to $52 million for Ricochet, producer of “Super Nanny.”
Such acquisitions have pumped up both companies’ share prices, and further consolidation is in the cards as a handful of Blighty’s super indies, including Bob Geldof’s Ten Alps and the privately owned All3Media, seek to build the kind of critical mass that investors would like to see.