Songbird Estates has announced one of Aim’s biggest fundraisings, with a complex package to bring in more than £1bn to help repay debt. However, the owner of London’s Canary Wharf Group is more like a partnership than a typical Aim company. It also has the backing of Chinese and Qatari sovereign wealth funds.

So news of its placing and open offer should not be seen as a sign of glad, confident morning on Aim. Nevertheless, secondary fundraisings are becoming commonplace, providing an encouraging health check for the junior market.