Listing on AIM

In the U.S., the IPO or DPO prospectus has to go through several SEC comment letters and responses before the company’s registration statement can become effective (approved). The Company must then either file a 15-C2-11 with FINRA to gain trading status on the OTCBB or if it qualifies and is raising capital through a broker dealer it must qualify for listing on NASDAQ.

The process is much more simplified to list on the London Stock Exchange. There is no regulatory authority in the UK - it is the responsibility of the sponsoring Nomad. As a result, the entire process is substantially faster and cheaper than a comparable transaction in the U.S. The prospectus must fully disclose all information that an investor needs in order to make an informed investment decision. In most cases the prospectus is generally less comprehensive than an SEC-filed registration statement and the review process, for the most part, is non existent.

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