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OFEX in £2.5m AIM challenge

Article Date:  Sep 06 2005 Robert Tyerman


PLUS Markets Group, which runs the private OFEX share market, has raised £2.5 million to raise its challenge to AIM.

AIM-quoted PLUS Markets, which lost £1.3 million last year and cut its losses in the first half of 2005 from £533,000 to £153,000, has raised up to £2.5 million in a placing at 5p, handled by broker Numis. Run by chief executive officer and former AIM boss Simon Brickles, the company says it intends to 'broaden markedly its existing trading services to encompass an extended range of securities'.

The OFEX panel meets on Thursday to consider proposals for the future of the market. PLUS Markets, chaired by Stephen Hazell-Smith, says it is responding to 'demand from leading financial institutions... to encompass a wider range of securities'.

Some players suggest this could involve some AIM securities, but PLUS Markets remains tight-lipped for now.

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