Published: Thursday, 24th April, 2008 2:15pm

Hunt on for firms to join stock exchange

CORPORATE finance specialists are searching the Thames Valley for businesses they can take to a new independent stock exchange.

Maxim Corporate Finance LLP, sponsors of Thames Valley Investment Network, has won the licence to take firms in the Thames Valley to the new Plus stock exchange.

Maxim LLP partners Bhodi Sunth and Mehrtash A'zami are now looking for "exciting and growing" firms such as those involved in technology and new environmental projects, which are seeking growth finance.

Mr Sunth (pictured) said companies, which can be start-ups or established businesses looking to expand, could raise significant funds by listing on Plus, and avoid losing control to venture capitalists.

He said: "What we are seeking are ambitious, fast-growing companies that need funding. It's a fantastic way to get enhanced profile and credibility in the marketplace.

"We are looking for the right management team, with the right skills and businesses with sizzle. We can help the right businesses to go forward."

Listing on Plus, he said, would allow many to punch above their weight.

Mr Sunth said the London Stock Exchange (LSE) was now more suited to larger companies due to its stringent entry criteria and high costs. AIM, which was set up as a feeder stock exchange for the LSE, was now proving harder for SMEs to get into because its costs and entry requirement have grown with its popularity.

Typical costs for entry to Plus would be around £150,000, while AIM and the LSE were likely to be upwards of £500,000, rising to over £1m. Membership costs are lower and Plus benefits from many tax advantages.

Sixty companies joined Plus in 2007 and by the end of February there were 220 listed on it worth £2.3bn in total. The largest of them is Arsenal FC - worth £650m.

Now Maxim LLP wants to show what Plus can mean for SMEs in the Thames Valley that want to reach the next stage.

Mr A'zami said: "Plus is growing fast and is dedicated to dynamic SMEs. It enjoys a unique regulatory framework allowing more flexibility and much lower costs compared to the LSE and AIM. It is fast becoming the home for smaller SMEs seeking a market listing.

Mr Sunth, who is well-known among the area's business community, said he is looking to forge relationships with professionals such as accountants, lawyers, bankers and independent financial advisers, who want to work with Maxim LLP.

That, he said, will bring benefits for the professional themselves as well as their clients and Maxim LLP.

He added: "There are many ambitious firms in the Thames Valley. Now they don't need to go to London to achieve their ambitions. For fast-growing SMEs, this brings the City to their doorstep."

Contact: bhodi.sunth@maximllp.com

Link: www.maximllp.com

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