Any company considering joining AIM should seek the advice of a Nominated Adviser (Nomad). Nomads are corporate finance advisers approved by the London Stock Exchange and all AIM listed companies are required to have one. BDO can assist with recommending Nomads appropriate to a company’s sector and circumstances.
The Nomad will advise a company on its responsibilities in relation to its admission to AIM as well as its continuing obligations once a listing is achieved. In particular they will:
- Undertake due diligence to ensure the company is suitable for AIM and confirm this to the London Stock Exchange
- Advise the company throughout the flotation process and help produce the AIM admission document
- Ensure the company is prepared for being a listed entity
- Act as the main regulator for the company whilst it is on AIM.
Other advisers are also integral in supporting a company through the admission process. Such advisers usually include an accountant, broker, law firm, public relations and investor relations firm.
The role of the accountant is a crucial part of the process and BDO can assist in all aspects of an IPO including providing certain 'public' opinions required by the AIM Rules for Companies and performing the financial due diligence for the directors and the Nomad that is expected for IPOs.