Plus Markets holds steady over a tough trading year

STOCK market group Plus Markets said yesterday it had seen an exceptionally difficult year in 2009, though levels of new admissions and corporate activity held relatively steady.

Thirty companies applied to join the market over the year, of which 18 had been admitted by the end of December.

Plus said the number of fundraisings on the market reached a record of almost 150 as companies increasingly looked to tap investors to shore up their balance sheets, including a £6.4m rights issue announced by Newbury Racecourse at the end of the year.

Head of capital markets Paul Haddock said: “We’re optimistic for the coming year as Plus continues to broaden and develop its primary market offering and increasingly work alongside issuers and advisers to facilitate the admission of new companies, as well as non-standard instruments.”