Home Cyber Top Five largest tech IPO of all time Avast now listed on London Stock Exchange

Top Five largest tech IPO of all time Avast now listed on London Stock Exchange

by Brian Sims

The London Stock Exchange has welcomed Avast, a leading global cyber security solutions provider, to the Premium Segment of the Main Market, raising $200 million in primary proceeds and $616.6 million in secondary proceeds pre-greenshoe with a valuation of $3.23 billion. Avast is the largest tech IPO across Europe in 2018 to date and one of the five largest tech IPOs of all time listed on the London Stock Exchange.

To celebrate the listing and the commencement of conditional trading, Vincent Steckler (CEO at Avast) was welcomed by Tom Attenborough, head of international business development for the London Stock Exchange Group, to open trading this morning at the London Stock Exchange.

Steckler enthused: “Today, Avast began trading on the London Stock Exchange in what I’m extremely proud to say is the largest European tech IPO of the year. As the number of cyber threats around the world continues to dramatically increase, our focus on developing award-winning security products in order to help protect people’s digital lives has enabled us to grow our business into the Number One global consumer cyber security company, with more than 435 million users worldwide. This significant milestone for Avast will support our further growth as we begin the next chapter in the company’s history.”

Dr Robert Barnes, global head of primary markets at the London Stock Exchange Group, responded: “We’re delighted to welcome Avast to open trading this morning. The company’s successful IPO confirms London’s position as one of the world’s leading international technology centres and underlines the exceptional investor appetite for dynamic tech companies listing in the capital. It also demonstrates the London Stock Exchange’s enduring ability to finance a variety of issuers from across the world and from a number of sectors, affording them access to London’s deepest pool of international investor capital.”

The London Stock Exchange Group plays a leading role in championing the UK’s thriving tech sector, supporting dynamic global firms from cyber security to fintech and biotech at IPO and throughout their development. Since 2015, tech companies listed on the London Stock Exchange have raised £18 billion in IPO and follow-on capital.

In March, the London Stock Exchange Group launched a landmark Finance for Fintech report, surveying over 400 fintech companies in eight countries on finance and regulatory needs of the sector. The report duly identified the UK as one of the top three markets where fintechs would consider issuing equity or debt.

The London Stock Exchange Group’s business support and capital raising programme ELITE supports over 850 global businesses, of which over 15% are tech companies, while the Group’s 1,000 Companies to Inspire Europe 2017 report showcases 49 IT companies from across Europe.

You may also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More