Alphawave IP Group IPO: Everything you need to know about Alphawave
Joshua Warner May 6, 2021 2:31 PM
Alphawave IP Group, which designs tech used in semiconductor chips, plans to launch an IPO in London before the end of the month in what could be one of the hottest listings of 2021. We explain everything you need to know about the company. Share:
When is the Alphawave IPO?
Alphawave IP Group confirmed in April that it intends to launch an initial public offering to list on the Main Market of the London Stock Exchange sometime in May 2021. A specific date has not yet been confirmed.
Alphawave founders set for $2bn payday in London float
The Anglo-Canadian chip developer has said the market debut will value it at $4.5bn
29 April 2021 • 4:49pm
The founders of Alphawave IP are set to crystallise fortunes of as much as $700m (£501m) each when the semiconductor company floats in London next month.
Anglo-Canadian chip developer Alphawave is on track to achieve a valuation of $4.5bn when it joins the London Stock Exchange, becoming one of the City s biggest listings in years, in what will come as a major boon in the wake of Deliveroo s disastrous debut late last month.
The move to choose London, which was confirmed in a statement to the markets today, is expected to land industry veterans Tony Pialis, Jonathan Rogers and Raj Mahadevan, who founded the company in 2017, paper fortunes of as much as $700m each. All three currently hold around a fifth of the shares in the business.
A Canadian chip designer is planning a £3billion float in London, which is a major vote of confidence in the Square Mile as a destination for technology firms.
Paying tribute to rivals such as Arm and Imagination Technologies, Alphawave IP said it chose the City because of the UK’s ‘incredible technology and semiconductor industry’.
The firm is jointly headquartered in London and Toronto and is planning a research and development base in Cambridge, adding to the growing cluster of firms that have led the area to be dubbed ‘Silicon Fen’.
Tech triumph: Canadian chip designer Alphawave IP is planning a £3bn float in London