Stamp duty lifted on AIM
With effect from 28 April 2014, the UK Government abolished stamp duty on shares traded on growth markets such as AIM provided that such shares are not also "listed" on a recognised stock exchange. This is a move by the Government to boost investor participation and consequently, liquidity for AIM traded shares and will save investors 0.5% of the price paid for shares.
Interest in AIM shares grew following changes in rules last year which now permit UK investors to invest through their individual savings accounts (ISAs) in a tax efficient way. More information on the abolition of stamp duty may be found in the LSE's factsheet.
Sean Cheong, partner at Collas Crill says: "This is clearly a positive message for investors who will see costs savings in their investments. Issuers too stand to benefit from the improved liquidity of their shares." She adds "AIM already ticks the box on a number of levels for international companies in their growth phase looking to raise capital. This will simply add to the competitive advantage of AIM over exchanges in South East Asia where most of our Asian clients are based."
Asian listing clients see London's enduring appeal for IPO activity
A surge in IPO activity in late 2013 was a sign of growing momentum in global equity markets.
The US led with a 37% share of global proceeds raised, while Asia was first in terms of number of deals. Europe also saw record volumes with London's AIM raising £4bn, its strongest year since 2007.
From our Singapore office, Collas Crill has seen stronger interest in listings in London in a variety of sectors. This article looks at the appeal of London for Asian listing clients, the advantages and how to build strong relations with Asian clients.
Read the full article here: Asian Listing Clients See London's Enduring Appeal For IPO Activity.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
