PLUS Markets has enjoyed a strong opening five months of the year by recording a 44 per cent increase in IPO and fundraising activity on its exchange on the same period in 2007.

A total of £39.2 million was raised between January and May, compared with £27.2 million 12 months ago.

In May alone PLUS companies raised £18.5 million, with China CDM Exchange Centre securing £10 million and Seven Arts Pictures enjoying a £5 million windfall from a secondary fundraising.

During this period, 20 companies were admitted to PLUS adding to the 200 businesses already listed on the exchange. New admissions included retail property provider TYI, which was valued at £3 million, and environmental compliance specialist Zeta, which has a market cap of £1.5 million.

PLUS head of capital markets Paul Haddock said despite uncertain economic conditions there is a continuing momentum on the PLUS-quoted market. “PLUS is consolidating its reputation as an accessible IPO and fundraising venue for growth companies looking for straightforward and cost-effective access to capital in London.”