Afa Systems to de-list from London’s main exchange
Afa Systems, a UK provider of pricing, portfolio modelling, trading and risk management software, plans to de-list from London’s principal stock exchange and move its shares to London’s Alternative Investment Market (Aim).
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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