PLUS is remaining upbeat in the face of the global stock market crash and says that it is still growing in spite of it.
The market, which offers small businesses the opportunity to raise money and crystallise value, says that as at the end of September 34 new companies had joined it, therefore there were more admissions than withdrawals.
Also, fundraising and M&A activity on the PLUS-quoted market continued to grow with over £54m raised during the year to end-September 2008.
“We continue to see admissions, fundraisings and M&A activity on the PLUS-quoted market,” said Paul Haddock, head of capital markets.
“The appeal of PLUS is clear, even in difficult economic conditions as demonstrated by continuing activity and a strong pipeline.
“As bank funding in the current economic environment is increasingly difficult to access, small and mid-cap companies are finding PLUS a useful venue for equity finance.”
PLUS says it has grown in other ways also:
Ten PLUS-quoted companies accessed the market for secondary fundraisings during September including Keycom which raised over £4m to fund its purchase of MCW Group Limited and Mediaforce LLP.
Chatsford Corporate Finance Limited, a city-based independent corporate finance and investment advisory firm focused on small cap businesses, has become a PLUS corporate adviser.
© Crimson Business Ltd. 2008