AIM, a market that is operated, regulated and promoted by the London Stock Exchange, is the world's leading growth market. As at the beginning of 2008, over 1,700 companies were admitted, with a total market capitalization in excess of £100 billion ($200 billion).

Based on our track record, K&L Gates believes that we have one of the leading AIM practices.  We advise both companies already admitted and those seeking to be admitted to AIM, as well as the investment banks and finance houses advising AIM companies.

We have acted for a number of leading UK Brokers on their own admissions to AIM and currently act for 18 of the most active Nominated Advisers and Brokers advising companies coming to AIM.  Nominated Advisers and Brokers, as well as companies coming to AIM, regularly seek advice from us based on our in-depth understanding of this market. 

We are one of the most active Anglo-American firms undertaking AIM and capital markets transactions, having advised on more than 230 IPOs over the last 8 years and at least 35 AIM IPOs over the last 2 years. Additionally, our corporate finance lawyers regularly advise on a wide range of AIM transactions, such as subsequent fundraisings, reverse takeovers, secondary listings, PIPEs, SPACs, acquisitions and disposals as well as pre-IPO fundraisings, corporate governance issues and post-admission continuing obligations.

We have particular experience in bringing international companies to AIM, and can draw on our 25 offices throughout the U.S., Asia and in Continental Europe, including our London office, to provide a seamless service on UK, U.S., and international issues.

Some recent examples of our experience include advising the first-ever U.S. company to utilize the new SIS electronic system for trading restricted Reg-S stock; assisting the London Stock Exchange in the establishment of the new rules and guidance relating to the new SIS settlement system; and advising on the first-ever admissions of Greek and Japanese companies to AIM.

In addition, we have acted on a number of other groundbreaking AIM transactions, including:

• the first-ever share-for-share takeover offer for an AIM company by a Japanese company using Japanese paper;
• the first-ever spin-out from a fully listed NASDAQ parent company of a set of businesses onto AIM; and
• the first-ever fundraising to use a prospectus under the new U.K. Prospectus Regime (being issued the day on which the new regime came into effect)

We also recently advised the first-ever U.S.-based company to obtain an exclusive primary listing on the Official List of the London Stock Exchange. This transaction again reinforces K&L Gates' reputation for advising on transactions involving international businesses listing in London. Click here for press release.

We understand how consuming the whole flotation process is for a business and can help with project management, identify issues in advance and avoid pitfalls, contain costs and make the whole process as straightforward as possible. Additionally, we know our way around the markets and the applicable rules and regulations.

Our team has also focused on a number of industry sectors for many years, including natural resources, pharmaceuticals, biotechnology, telecommunications, media and technology, real estate & construction, financial services, manufacturing & engineering and support services.  Consequently, our lawyers bring with them considerable know-how, industry connections and working experience which enable us to understand the business of our clients, how admission to AIM will affect our clients' business and the commercial drivers that make AIM the right market for the business in question.

We are a wholehearted supporter of the Quoted Companies Alliance (QCA), the only organisation dedicated to promoting and pursuing the interests and concerns of smaller quoted companies, such as those companies admitted to AIM.  Our AIM Team is represented on the QCA Board of Directors and on the QCA Share Schemes Committee.