The challenge for companies targeting AIM 13/08/2010
With AIM investment advisers speaking of ‘cautious optimism’ and a ‘stronger deal pipeline’, Robert Tyerman assesses whether we are soon to see a deluge of new issues
John McArthur, the 70 year-old former corporate finance star at Kleinwort Benson and now boss of old-style independent investment house McArthur & Co, may seem an unlikely figure to associate with the Nirah project, an ambitious plan to build the world’s largest aquarium in Bedfordshire. Yet McArthur & Co has ten per cent of the project and its deputy chairman Peter May is chairman of Nirah.
May explains that Nirah – the ‘National Institute for Research into Aquatic Habitats’ – is envisaged as a ‘bio-domed’ complex four times the size of Cornwall’s Eden Project, housing tropical trees and plants and thousands of species of freshwater fish, amphibians and reptiles. After its scheduled opening in 2009, Nirah, whose chairman is ex-Trinity Mirror chief executive Philip Graf, could become commercial as a world-class research centre on endangered species and provide ‘an unprecedented resource’ for bioscience researchers and a major tourist attraction.
According to May, whose City experience includes NM Rothschild and Charterhouse, McArthur & Co specialises in pre-float financing. ‘We put Biofuels together’, he recalls, citing camping holiday issue Parkdean and Grosvenor Land as among the firm’s other deals, with green energy projects in Germany and Chinese ventures in the pipeline.
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With AIM investment advisers speaking of ‘cautious optimism’ and a ‘stronger deal pipeline’, Robert Tyerman assesses whether we are soon to see a deluge of new issues
Accountancy firm PricewaterhouseCoopers has bearishly declared that by 2015 there is ‘a 50 per cent chance that property prices will be below 2007 levels’.
As Tajikistan-focused gold explorer Kryso Resources celebrates the appointment of experienced gold miner Andre Gaston as chief operating officer, London public relations outfit Walbrook has announced to an unsuspecting world that it has won the PR account for the AIM-quoted company.