(Adds comment from Alphawave chairman, detail on recent IPOs)
LONDON, May 13 (Reuters) - Canadian semiconductor technology company Alphawave’s shares plunged as much as 21% on their London market debut on Thursday, shrinking its value by more than 600 million pounds ($842 million) within hours.
The slump comes amid a broader tech stock selloff and only weeks after food delivery firm Deliveroo fell as much as 30% on its debut, potentially hurting the London market’s ambitions to attract young fast-growing companies.
Toronto-based Alphawave had already compromised on pricing its initial public offering (IPO), selling shares worth 856 million pounds at the middle of a previously announced price range at 410 pence, giving it a valuation of 3.1 billion pounds.
Get back to dining out with this $100 Restaurant.com eGift card for only $18
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Ashley Hughes
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