Aquis Stock Exchange (AQSE) Growth Market
A UK stock exchange for growth companies, with an Access segment for early-stage companies and an Apex segment for larger ones. A route to raise money from public investors with lighter entry than larger markets, but with ongoing public company duties.
- Shares
How it works
Aquis Stock Exchange describes itself as one of only two regulated equity exchanges in the UK. It is now part of SIX. Its Growth Market has three segments:
- Access: the first stage of being publicly quoted, for early-stage companies with little or no trading history.
- Apex: for larger, more established growth companies with a proven growth strategy and higher standards of governance.
- Aram: for real assets such as property, infrastructure and forestry.
The steps to join: meet Aquis, appoint a corporate adviser, go through admission, raise money from investors, publish a market notice, then a final review before trading starts. At least 10% of shares must be in public hands (the free float), so founders can keep majority control.
At the end of 2025 there were 79 companies on the market, which raised over £310 million in 2025.
Upsides and downsides
Upsides
- A public market open to early-stage companies
- Founders can keep majority control with a 10% free float
- Shares can be traded, giving a visible value and a way for investors to sell
- Raise more money later
Downsides
- A smaller market than the London Stock Exchange, with fewer investors
- Costs to join and ongoing fees
- Public scrutiny, disclosure rules and reporting
Risks
- Low trading in your shares, so the share price may not reflect value
- Penalties or suspension for breaking the rules
- Founders losing influence as more shares are sold
What it costs
- How it is priced
- Shares sold to public investors, plus corporate adviser, legal and exchange fees
- Costs that are easy to miss
- Corporate adviser, legal and accounting fees to join
- Ongoing adviser and exchange fees
- Management time on reporting, disclosure and investor relations
Set by each fundraising. Aquis reported 50 fundraisings of more than £1 million in 2025.
Have an offer? Dilution calculator: see what you would own after each round
Does it fit?
Could fit when
- You are a growing company that wants public investors without the scale needed for a larger market
- You want your shares to be tradeable while keeping majority control
Unlikely to fit when
- You want to keep all the shares
- You are not ready for public reporting and scrutiny
Who can use it
- Business types: Public limited company
- You must appoint a corporate adviser
- At least 10% of shares must be available to public investors
- Access is for early-stage companies, Apex for larger, established ones
Am I ready?
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- A corporate adviser
- Accounts and forecasts
- Governance in place
Regulation and protections
Aquis Stock Exchange describes itself as one of only two regulated equity exchanges in the UK. Companies on its Growth Market must follow its rules for their segment.
Types of provider: Aquis Stock Exchange; Corporate advisers and brokers.
Also consider
Sources
- Aquis Stock Exchange: home page · checked 7 October 2026
- Aquis Stock Exchange: IPO Today (for companies) · checked 7 October 2026