Internet firms look to take AIM

Online travel companies are increasingly looking to the Square Mile to raise much-needed capital, with the Alternative Investment Market a focus of attention, a senior analyst has predicted.


It is understood that a number of companies have enquired about the AIM as a potential vehicle to raise capital and provide an exit route for founders.


Imtiaz Longi, an associate director for travel at Vantis, said apart from EUJet.com, which came to an inglorious end via a takeover and then collapse in 2005, only three online companies have made a concerted effort to gain a listing to the AIM.


CNGTravel.com, TravelZest and Western and Oriental have all erformed well, Longi said, but high returns on investments, various tax breaks and less red tape than in the US could attract more in the future.


A company with a turnover of about £20 million a year could effectively team up with three or four “like-minded” operations to secure flotation, he added.

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