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Whilst trawling through the drinks sector recently I came across an unusual company called Consentino Signature Wines (LSE: MCOZ). It turns out that the Napa Valley winery was admitted to the Alternative Investment Market, better known as AIM, last year. But despite its London listing, Consentino does almost all of its business in the US where its wines can be found in American restaurants and wine stores. It also operates a number of wine clubs - but to join you must have an address in the US. So, my question is this: why would a US company that manufactures in the US, operates in the US and sells almost exclusively in the US, want to list on the UK market rather than on, say, Nasdaq? What's more, if it can't raise money in the most sophisticated market in the world, why should UK investors bother to back it? My subsequent investigation led to a number of other US companies that have chosen to raise money through a listing on AIM. They include Californian fuel cell specialist Polyfuel (LSE: PYF), New York healthcare outfit Cardiomag Imaging (LSE: CMI) and a Washington-based medical diagnostic setup with an unfortunate ticker symbol Spacelabs Healthcare (LSE: SLAB). In fact, according to the London Stock Exchange, AIM attracted a record 19 companies from the US last year. They raised over a billion pounds, and AIM is now home to 29 companies from across the pond. Additionally, it seems that London's AIM may become increasingly more important to US companies looking to raise funds. One of the main reasons is that a listing in London tends to be less onerous than listing on the US markets. In America, companies are now required to comply with the burdensome financial disclosure legislation under the Sarbanes-Oxley Act, which can be both costly and time consuming. Another factor is changes to the rules governing a listing on Nasdaq, which has traditionally been a popular first port of call for fledgling US growth businesses. These days, Nasdaq is no longer quite as welcoming as it once was. There are rules governing minimum market capitalisations, and companies must maintain a minimum closing bid price of $1.00 per share or face de-listing. By comparison listing on AIM is considerably more relaxed. When AIM was formed ten years ago, its creators could not have imagined that London's junior market would be looked upon with envy by foreign bourses. Now losing 19 companies to AIM will not give Nasdaq sleepless nights just yet, but its management may start to worry if the trickle turns into a flood. But until then UK investors can enjoy a greater choice of fledgling growth companies to invest in that not only include small US businesses, but numerous other international companies, too. > The Attractions Of AIM Shares | Exciting Times For Investors
