LONDON: Alphawave IP announced the successful pricing of its initial public offering at 410 pence per Share.
Based on the Offer Price, Alphawave IP’s market capitalisation (on a fully diluted basis) will be approximately £3.1 billion at the commencement of conditional dealings on the main market of the London Stock Exchange.
John Lofton Holt, Executive Chairman of Alphawave IP, said: “We are proud to be launching on the London Stock Exchange. London was the obvious venue for the listing of our silicon IP business because both the industry and the business model were born in the UK. We are pleased to have executed against our IPO plans successfully, ahead of schedule and supported by a strong UK investor base, alongside a distinguished list of blue-chip investors across the US, Canada and Europe. Today is just the start of our journey.”
Tony Pialis, President and Chief Executive Officer of Alphawave IP, said: “We could not have made it here today without the focus and engineering talents of our employees, who have designed cutting-edge IP that enables data to travel faster, more reliably, using lower power. We have one share class structure: the founders, our employees and our future employees – and now our investors – have a common alignment of interest. I would like to thank our Canadian team, who have played a pivotal role in creating the strong foundations for our growth; and also our customers and partners. With our London listing, new research capabilities in Cambridge and funds for investment, our ambition is to extend our global leadership in connectivity solutions.”
Conditional dealings in Alphawave IP Shares commenced on the London Stock Exchange at 8:00 a.m. (London time) on 13 May 2021 under the ticker “AWE”.
Admission to the standard listing segment of the Official List of the FCA and to trading on the Main Market for listed securities of the London Stock Exchange, and the commencement of unconditional dealings is expected to take place at 8.00 a.m. (London time) on 18 May 2021.
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