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Canadian Chip Designer Alphawave Sees Shares Slump 19% in London IPO


But within hours of trading, the share price fell to £3.28, cutting the market cap by more than £500 million. Shares recovered slightly and were trading at £3.33 by 9 a.m. London time.
The IPO comes as stock markets worldwide take a hit, with the pan-European Stoxx 600 falling over 1.3% in early trade Thursday. European markets are following the negative trend seen in Asia-Pacific overnight and the U.S. on Wednesday after the latest U.S. inflation data for April showed higher-than-expected price pressures.
Founded in Toronto, Alphawave announced it intended to list on the London Stock Exchange last month, shunning New York s tech-focused Nasdaq in the process. ....

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Silicon connectivity firm Alphawave targets $4.5 bln London listing


TechnologySilicon connectivity firm Alphawave targets $4.5 bln London listing
ReutersMuvija MPaul Sandle
4 minutes read
Alphawave, a Toronto-based silicon IP firm, is planning to list in London to expand the reach of its chip connectivity technology and could be valued at up to $4.5 billion based on cornerstone agreements with two major investors.
About $500 million would be raised by issuing new shares, it said, and existing investors would also offer stock.
Alphawave, founded in 2017 and profitable since 2018, said BlackRock (BLK.N) and Janus Henderson (JHG.N) had agreed to subscribe for $510 million of offer shares at a price that would give the firm an equity value of up to $4.5 billion at admission. ....

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Investegate |Alphawave IP Group Announcements | Alphawave IP Group: Expected Intention to Float


 
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This announcement is not a prospectus (or prospectus equivalent) and not an offer of securities for sale
nor a solicitation of an offer to acquire or a recommendation to sell or buy securities
in any jurisdiction, including in or into the United States, Australia, Canada or Japan.
 
Neither this announcement, nor anything contained herein, nor anything contained in the Registration Document referred to herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. Investors should not subscribe for or purchase any ordinary shares referred to in this announcement or the Registration Document except on the basis of info ....

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