The Aim market has had its worst year for initial public offerings. Ten businesses floated on the junior market — formerly known as the Alternative Investment Market — this year, including Loungers, the café bar chain, and Argentex, the foreign exchange group, down from 42 in 2018 and 50 in 2017. Between 2004 and 2007 more than 1,000 companies listed, at an average of 260 a year. Aim, which launched in June 1995, is seen as a more suitable market for smaller, faster-growing companies that are likely to tap the capital markets for more money further down the line. However, its popularity has waned. Not only has there been a sharp drop in companies coming to market, but several have left.
Hedge funds have placed bets worth £1.6 billion against British retailers as the industry braces for further pressure on the high street. Retailers including Morrison (Wm) Supermarkets (MRW), the B&Q owner Kingfisher (KGF) and Marks & Spencer Group (MKS) have been targeted by short-sellers as they bet that share prices in the sector will fall. Morrisons, the supermarket chain, is Britain’s most heavily shorted retailer with 6.12% of its shares, worth almost £300 million, on loan, according to data from the Financial Conduct Authority. Hedge funds including Blackrock, Citadel, Hengistbury, Pelham and Darsana Capital Partners have bet against the company.
