London Stock Exchange Group announced today that nine firms have applied to join the Aim Italia Nominated Adviser register, marking an important step in the creation of the growth market in Italy.
It was also announced today that the AIM Italia rule book, approved in September, has now become effective.
AIM Italia is distinguished by its balanced regulatory approach, underpinned by the Nominated Adviser system, the international visibility generated through its close links with AIM, as well as its straightforward admissions process tailored around the needs of Italian small and mid-cap companies.
The nine prospective AIM Italia Nominated Advisers, who will have their applications finalised over the coming weeks, are:
- Banca Akros
- Eidos Partners
- Equita SIM (Ex Euromobiliare SIM)
- Intermonte SIM
- MPS Capital Services
- UniCredit Group
- Unipol Merchant
Massimo Capuano, Deputy CEO of London Stock Exchange Group and CEO of Borsa Italiana, said: "The launch of AIM Italia represents one of the key milestones of the merger between Borsa Italiana and the London Stock Exchange. AIM Italia will become a central part of Borsa Italiana's offering for Italian small and medium sized companies. It has been specifically tailored to meet their needs for growth capital, profile-building opportunities and, in time, a liquid secondary market. It will also provide investors with exciting new investment opportunities and effective principles-based regulatory protection. We believe AIM Italia will become one of the main ways for financing developing Italian growth companies."
The SME sector in Italy is large and exciting: with over 4000 companies Italy has the highest concentration of SMEs in Europe and is well known for its 'family' capitalism, typified by its large number of family-run businesses. From this population we see a range of potential candidates for equity market funding.
Alongside the launch of rules for AIM Italia, Borsa Italiana is overhauling its market structure. These include upgrading the Expandi market into the main MTA market; agreeing fast track procedures between the different markets; providing a dedicated admission procedure for private equity backed companies; and creating a market in Italy for investment vehicles. More details on these changes can be found via the Borsa Italiana press release.