Alphawave IP Group prices IPO at up to $4.5 bln


Date: 14.05.2021

Alphawave IPO Group has set a price range for its planned London listing of 375 pence to 430 pence per share, putting it on course for a valuation of up to 3.2 billion pounds ($4.45 billion), bookrunner JPMorgan .

The Toronto-based company, which designs semiconductor technology and then licences it to other businesses, said it plans to raise proceeds of up to 810 million pounds excluding an over-allotment option. It will sell 360 million pounds in new shares and 450 million pounds of existing stock, aiming for a minimum free float of 25%.

Alphawave licences its high-speed data transmission technology to chipmakers and receives a royalty on every chip produced, replicating a model pioneered by Cambridge-based ARM.

Based on: Reuters

#News #IPO #ICO #Alphawave

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