Asos Toppled as AIM's Biggest Company After Cutting Outlook

Online retailer loses about 1.5 billion pounds in market value
Hutchison China MediTech is now AIM’s largest member

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By Lisa Pham

December 17, 2018 at 10:24 AM UTC

This article is for subscribers only.

In a single swoop, online fashion retailer Asos Plc has lost its place atop Britain’s junior market for growth companies.

A 43 percent intraday plunge on a reduced sales outlook slashed Asos’s market value by about 1.5 billion pounds ($1.9 billion) to 2 billion pounds, meaning its title as the biggest company on London Stock Exchange’s AIM market has been taken by biotechnology firm Hutchison China MediTech Ltd.