A new company entered AIM this week, and another is expected to be admitted to London’s junior market in the following week.
This week, a prominent AIM riser is at the forefront of the sustainability revolution, as government green initiatives take center stage.
eEnergy Group‘s interim results created a buzz around the stock, which rose by 84% to 5p. The firm, which helps households, hospitals, and businesses achieve net-zero objectives, saw a 58% YoY revenue rise and a return to profit. A £26 million order book bodes well for the firm’s performance in the second half.
The AIM-All Share Index, which rose by 0.6% to 804 points, made only slight gains across the wider market. However, the FTSE 100’s blue-chip companies surged 3% to 7,628 points in the last week of March, outpacing the index.
Unbound, an online fashion retailer that targets the over 55s, saw its shares more than double to 8p. It stated that it was considering a bid approach valuing the company at £6.8 million, for which WoolOvers made an offer of 10.25p per share, a 162.5% premium to Monday’s close.
Sanderson Design saw its shares rise by 5% to 126p after signing a “major” licensing agreement with Sainsbury’s that would result in Sainsbury’s Habitat homeware and TU clothing ranges created in collaboration with Sanderson’s Morris & Co and Scion brands.
Belvoir, a property franchise chain and financial services group, saw its shares rise by a fifth this week, thanks to a strong set of full-year results that saw revenue rise by 14% to £33.7 million in the year ending December 31, 2022.
Among the AIM’s fallers this week, Scotgold Resources shed 43% after the miner reported lower-than-expected gold grades. It is looking to raise US$500,000 to fund changes to the way it mines ore at its operation close to Loch Lomond.
Finally, Pensana lost 45% of its value, dropping to 32p, after publishing interim results that revealed a pressing need for more funding, with a current cash balance of US$200,000 in cash and US$9.1 million of outstanding creditors.
Research by accountancy firm UHY Hacker Young revealed that only nine AIM floats occurred in the year to March 27, 2023, compared with 74 in the prior 12 months and a rolling annual average of 138, indicating a decline in IPOs.
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