Irish firms are urged to target AIM

IRISH companies looking to expand quickly should list on London's Alternative Investment Market (AIM), the exchange's deputy head told entrepreneurs in Dublin yesterday.

Mathew Wootton said 11 Irish companies had already listed on the AIM. The market offered companies a way to raise funds without incurring high costs and meeting the onerous regulatory requirements involved in a full listing on the London Stock Exchange, he said.

Two Irish companies, Cork drug researcher EiRx Therapeutics and Kenmare-based hotel reservation business CNG Travel, raised funds through AIM listings earlier this year. They joined exploration companies such as Petroceltic (formerly known as Ennex), first aid product developer Alltracel and recruitment company CPL.