A securities market established by the London Stock Exchange (www.practicallaw.com/A36384) (LSE) in June 1995 to meet the needs of smaller, growing companies which might not meet the full criteria for a listing on the Main Market (www.practicallaw.com/A36389) or for whom a more flexible regulatory environment is more appropriate. Originally known as the Alternative Investment Market and abbreviated as AIM, the market is now known simply as AIM.
AIM operates, and is regulated, separately from the LSE's main market for listed companies. The entry criteria for AIM make it possible to gain admission without a trading record, an established management team or any minimum market capitalisation. AIM companies are not bound by the Listing Rules (www.practicallaw.com/A36363). AIM companies benefit from a more flexible regulatory environment that can act as a stepping stone for those that may aspire to the Main Market using a simplified admission process.
For further information, see Practice note, Introduction to AIM (www.practicallaw.com/2-201-2217).