Dealogic to delist from London AIM
FINANCIAL data provider Dealogic has said it intends to delist from London’s alternative investment market (Aim).
The company, which offers research and analysis to investment banks, plans to delist next month, subject to shareholder approval.
Management at the firm will hold a shareholder meeting on 7 July to seek approval for the plans, with delisting effective from 19 July.
Directors at the firm want to delist as they believe its share price had not risen in line with its financial performance, saying there had been limited liquidity of its ordinary shares.
Over the past year, trading of the firm’s ordinary shares occurred on only 131 days out of a possible 252 trading days, the firm said.
Dealogic also said its free float currently comprised of less than ten per cent of its total issued share capital.
Since the firm listed in May 2004 its revenues have increased from $59.1m (£36.4m) to $103.6m in 2010. Pre-tax profits have increased by 100.7 per cent since 2004 from $19.2m to $38.6m in 2010.
“The AIM listing does not, in itself, offer investors meaningful liquidity or marketability of the ordinary shares or the opportunity to trade in meaningful volume or with frequency,” the firm said.