The amount of cash raised in the first half of 2020 by companies listed on the Alternative Investment Market has soared, according to UHY Hacker Young, as struggling firms find ways to access liquidity and shore up balance sheets during the pandemic.

Companies listed on the AIM market, a sub-market of the London Stock Exchange, have raised £2.8bn through secondary fundraising during the first six months of the year, research from the accounting group revealed on 3 July. This is a 53% increase compared to the same period in 2019, during which £1.8bn was raised.