Record number of firms leaving London's AIM market after advisers quit: study

London

COMPANIES leaving London's junior stock market because a broker or investment bank has quit as their adviser has hit a record this year, an accountancy firm specialising in the sector said.

Fourteen companies left London's Alternative Investment Market (AIM) in the year to June 30 after the resignation of their "nominated adviser", known as nomads. This matches the highest total and is up from just three in 2011/12, the study released on Monday by UHY Hacker Young, an accountancy firm that audits more than 20 firms on the index, found.