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Article: AIM turns seven with largest IPO.
- Article from:
- Financial News
- Article date:
- June 23, 2002
CopyrightCOPYRIGHT 2002 Financial News Publishing Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Ben Hoyle
London's Alternative Investment Market (AIM) celebrated its seventh birthday this week by announcing its largest-ever initial public offering (IPO).PRI Group, an insurance start-up specialising in professional liability, raised pound sterling125m ([euro]194.5m) in a share placing ahead of an IPO next week which will value the company at pound sterling139.1m. Collins Stuart is acting as nominated adviser and broker.
Before PRI hit the market, AIM had already churned out 35 IPOs this year, raising a total of pound sterling152.8m - small beer, perhaps, but an indicator of rude health when set against its European rivals.
The ...