OMX, the Nordic exchange operator that merged with Nasdaq this month, is targeting eastern European and former Soviet Union companies for listings on its junior market, in a bid to provide an alternative to the London Stock Exchange's Alternative Investment Market.

Jenny Rosberg, president of company services at OMX, said it is targeting companies for listings on First North, its junior market, in eastern Europe and the former Soviet Union. Rosberg said the regions “have a lot of interesting businesses that are emerging at a rapid pace in the information technology and telecoms sectors”.