Mike Ashley-backed toymaker Hornby ditches LSE listing in further blow to London markets

'Limited liquidity' offered by AIM

Hornby, a model train and toymaker backed by British billionaire Mike Ashley, has is seeking to cancel its trading on London’s junior market, the Alternative Investment Market (AIM).

In a London stock exchange notice today (13 March) the board cited the "limited liquidity" offered by AIM and the "regulatory burden and cost of maintaining the public quotation" as reasons for its proposed delisting. Hornby, a company dating back to 1901 and floated on the public market in 1996, said the decision was "not taken lightly".  Number of UK companies mulling moving their listing doubles in 12 months Hornby's shares once sat as high as 283p per share during the early 2000s, but have struggled in recent years, frequently dipping below the 20p level. According to MarketWat...