Isle of Man confirmed as preferred jurisdiction destination for 'AIM 100' companies
The Isle of Man is the jurisdiction most preferred by non-UK companies wishing to incorporate when listing on London’s Alternative Investment Market (AIM), new research by Hemscott has revealed.
The survey, which examined the top 100 non-UK companies listed currently on AIM, reported that 15 are incorporated in the Isle of Man. This is more than twice as many as second placed Bermuda, (six) and third placed Canada (five).
Commenting on the findings, Allan Bell MHK, the Isle of Man Treasury Minister, said: "The Island's favourable taxation, legal, and investment environment makes it an attractive proposition to companies seeking a market listing. We are delighted to be recognized for the important role we are playing through providing global companies with a gateway to the City of London's thriving capital markets."
Andrew Corlett, managing director of Cains, the Isle of Man based law firm which has advised on 14 listings in the past 12 months including Nikanor plc, Unitech Corporate Parks plc and Lamprell plc, added:
"An increasing number of international companies are choosing to list on AIM via an external domicile of incorporation, and their quality is reflected in the current strength of investor appetite. As our own experience reflects, India and China in particular are choosing the Isle of Man as their preferred jurisdiction, and we believe this trend will continue to represent a key growth area for the Island's business."
Cains are currently ranked first by Hemscott for law firms by a number of AIM 100 clients.
The research also reveals that the combined market capitalisation of those 'top 100' companies incorporated in the Isle of Man amounts to £5221.89 million.
Meanwhile, when all companies listed on AIM are taken into account, the number incorporated offshore in the Isle of Man totals 46, with an overall market capitalisation of £7478.05 million. |
