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LSE and Tokyo bourse to set up TOKYO AIM
LSE and Tokyo bourse to set up TOKYO AIM London Stock Exchange Group PLC today published the rulebook for TOKYO AIM, the growth market it is setting up with the Tokyo Stock Exchange Group Inc. Established and operated as a joint venture between the TSE and LSE, TOKYO AIM will provide a new funding option for growing companies in Japan and Asia, giving them access to a capital market specifically tailored for their needs and to a wider investor base, while creating new investment opportunities for Japanese and international professional investors, the LSE said. The creation of TOKYO AIM became possible following the revision of the Japanese Financial Instruments and Exchange Act passed in June 2008. It is anticipated that the launch of TOKYO AIM will take place in spring 2009 subject to the granting of a license by the Financial Services Agency of Japan, the exchange said. TSE and LSE have formed a Japanese-incorporated company, held 51 percent by TSE and 49 percent by LSE. LSE has made an initial cash subscription of Yen 98.0 million, or £728,100, for its interest in the company.
