AIM potentials look to Isle of Man

26/04/2007  13:12:13

International companies wanting to be listed on AIM and use offshore banking are looking to the Isle of Man for incorporation increasingly, according to Citywire.

Fifteen of the top 100 AIM-listed firms with a capitalisation of £5.22 billion are incorporated on the island.

Offshore companies are attracted by favourable tax, legal and investment conditions, according to Isle of Man treasury minister Allan Bell

The non-ferrous metal mining group Nikanor, the Indian real estate group Unitech Corporate Parks and oil equipment and services outfit Lamprell are among companies that have been advised by the Isle of Man-based law firm, Cains.

Cains managing director Andrew Corlett said, according to Citywire: "India and China in particular are choosing the Isle of Man as their preferred jurisdiction, and we believe this trend will continue to represent a key growth area for the Islands business."

The largest Isle of Man incorporated company is real estate group Dawnay Day which has a stock market value of £697.7 million.

There are currently 1,646 listed on AIM in total.

Of these, 46 were incorporated on the Isle of Man.

See copyright notice

     

Other Top Business News Stories