Afa Systems to de-list from London’s main exchange

Afa’s market capitalisation has fallen from a peak of more than £100 million at the height of the technology bubble to between £5 million and £6 million. Henry Sallitt, Afa System’s finance director, told RiskNews that running costs for having shares on Aim were about 50% cheaper than on the main exchange.

But Sallitt said the main benefit of re-listing on Aim was to provide the company with “more elbow room” as the market is less regulated. “Things are going to be consolidating in this sector,” said Sallitt. “While we have nothing in the pipeline... doing transactions on Aim is considerably cheaper.”

Afa Systems received its main stock listing in May 2000, when Dresdner Kleinwort Wasserstein offered to take its client off the main bourse for free.

Sallitt said Afa Systems had signed three major deals with asset managers in the past few weeks, one of which was with South Africa's Rand Merchant Bank Asset Management.

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