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Third-tier British stock exchange seeing listings evaporate.

Knight Ridder/Tribune Business News

| September 29, 2004 | COPYRIGHT 1999 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Evening Standard, London Knight Ridder/Tribune Business News

Sep. 29--SHARES in Ofex, London's third tier, least-regulated stock market, collapsed today after new figures showed it is losing its battle with the Alternative Investment Market (AIM) for new floats, writes Robert Lea.

Ofex which, confusingly, is quoted on AIM, saw its shares dive to a low of just 8p down 91/4p on the day and off from their 25p float price 18 months ago.

The independent exchange, whose biggest stocks are tightly-controlled football clubs like Arsenal and Rangers and family-owned brewers such as Shepherd Neame, Brakspear and Adnams, said losses had doubled in the …

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