Hardman & Co Insight: Are the public markets closing to smaller companies?
There has been much comment on the fact that equity markets in the US and Europe have been shrinking for some years now. This paper assesses the evidence in London, considers explanations, asks whether it matters and (assuming it does) what can be done.We find that, excluding the 350 largest companies and all financials the number of trading companies on the Main Market has fallen by 72% since 1999. The average market cap at IPO has gone up substantially; for example, the average AIM IPO market cap has grown from £21m in 1995 to £127m in 2019, even when adjusted for inflation.
Companies leave it later in their life to IPO. This is bad for them, the economy and society. We suggest a number of solutions.
We are a rapidly growing, innovative corporate research & consultancy business, based in London, serving the needs of both public and private companies.
Our expert team of sector analysts and market professionals collectively have over 400 years of experience. This depth of knowledge and a reputation for integrity have built trust with investors. With effective communication and precision distribution, we help companies disseminate their investment message to interested investors, as well as advise them on strategy.
Our smaller, boutique structure allows us to provide first-class customer service and to deliver a wide range of ad-hoc services for multiple clients with different needs.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.