PUNT OF THE WEEK

WHAT IS IT?

BROKER Numis helps stock market-listed companies with a variety of tasks, from floating to raising new money. Since 2009, the firm has raised around £10bn for its clients.

WHAT’S THE LATEST?

In March, Numis warned revenues this year would be down by a quarter. Brokers are still trying to adjust after a swathe of regulation was introduced last year. For some this has knocked the amount of company research they can write.

WHO BACKS IT?

Anders Holch Povlsen, the Danish billionaire who is Asos’s largest shareholder, also owns the biggest stake in Numis. Aviva, Janus Henderson and Polar Capital are among the largest institutional investors.

WHY INVEST?

David Jones, chief market strategist at Capital.com, thinks the regulations may also lead to consolidation, so Numis could be a takeover target or on the hunt for deals itself.

AND WHY YOU SHOULDN’T

Jones says: ‘Considering the stock market has bounced back strongly this year, Numis has not followed suit.’ Numis may also be vulnerable to any further market downturns.