An uptick in listings on London’s junior stock exchange has left the City hopeful that AIM might be on the road to recovery after years of IPOs failing to appear.

Two AIM IPOs were announced today – authentication tech firm Quantum Base and accountancy firm MHA – causing hope among investors that further floats might be in the pipeline.

MHA, the UK arm of Baker Tilly, is aiming to raise up to £125m from the float in the coming weeks, while Quantum Base is looking to raise £3m to £5m.

Other companies that have flocked to AIM this year to float include defence firm RC Fornax, and healthcare firms Wellnex Life and One Health Group.

While only half a dozen businesses listed on the junior market so far in 2025, this is still a step up from the 11 which pursued an IPO throughout the entirety of last year.

The number of companies either delisting, moving to the main London Stock Exchange, or being taken over has continually surpassed new floats on AIM.

This has caused the total number of companies on AIM at the end of 2024 hit the lowest level in 23 years, with only 688 firms listed on the stock exchange compared to a peak of nearly 1,700 in 2007.

Is AIM back?

The constant bad news for the junior market seems to have finally taken a break, however, as listings seem to be beginning to tick up.

Tom Bacon, a corporate partner at BCLP, told City AM that the firm had engaged with a number of companies looking to join London’s public markets over the last few months.

“Despite a cyclical retreat from IPOs over the last few years, we are now seeing the return of some of that latent demand for going public as the market begins to open,” he said.

“It is great to see some potential IPOs intending to float on AIM,” added Amisha Chohan, head of small cap strategy at Quilter Cheviot.