Spike in companies transferring from AIM to main market following listing reforms, data shows

Six companies made the move from AIM to the main market in 2025 – treble the number to transition in the previous year – with indications that 2026 will continue the trend, with Brooks Macdonald having made the move and brewer Young’s set to follow.

The move comes after the Financial Conduct Authority made regulatory changes designed to reduce the cost and complexity of a main market listing, making the move a far more accessible step for companies.

Nicholas Holmes, an equity expert at Pinsent Masons, said the response of companies in moving to the main market vindicated the reforms.

“The main market has always carried greater prestige,” he explained.

“What has changed is that recent reforms have reduced some of the regulatory burdens associated with listing, making a move from AIM a more straightforward exercise for many companies.

“The regulatory gap between listing on AIM or the main market has narrowed, which is inevitably influencing how companies assess their listing options.” 

“With AIM reviewing its rules, the market will be watching closely to see whether those changes can attract and retain more businesses on AIM.”  

2025’s sharp increase in moves from AIM came after just two companies made the move in both 2024 and 2023, with four doing in 2022.

A listing on the main market opens up a broader range of potential investors, with many larger investment funds operating mandates that restrict them from investing in AIM shares.

“Ultimately, these transfers reflect a healthy pipeline within London’s equity markets,” added Holmes.

“AIM is supporting growing companies, while the main market is attracting businesses ready for their next phase of their growth.”