Avast – top five largest tech IPO of all time on London Stock Exchange

Source: London Stock Exchange

London Stock Exchange today welcomes Avast, a leading global cybersecurity 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 on London Stock Exchange.

To celebrate the listing and start of conditional trading, Vincent Steckler, CEO, Avast was welcomed by Tom Attenborough, Head of International Business Development, London Stock Exchange Group, to open trading this morning at London Stock Exchange.

Vincent Steckler, CEO, Avast:
“Today, Avast began trading on London Stock Exchange in what I am 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 to help protect people’s digital lives has enabled us to grow our business into the number one global consumer cybersecurity 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 and CEO Turquoise, London Stock Exchange Group:
“We are delighted to welcome Avast to open trading this morning. Its 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 London. It also demonstrates London Stock Exchange’s enduring ability to finance a variety of issuers from across the world, from a number of sectors, giving them access to London’s deepest pool of international investor capital.”

London Stock Exchange Group plays a leading role in championing the UK’s thriving tech sector, supporting dynamic global firms from cybersecurity to fintech and biotech at IPO and throughout their development.
• Since 2015, tech companies on London Stock Exchange have raised £18 billion in IPO and follow-on capital
• In March 2018, LSEG launched a landmark Finance for Fintech report, surveying over 400 fintech companies in eight countries on finance and regulatory needs of the sector Download the Finance for Fintech report
• Finance for Fintech report identified the UK as one of the top three markets where fintechs would consider issuing equity or debt
• London Stock Exchange Group’s business support and capital raising programme ELITE supports over 850 global businesses, of which over 15% are tech companies
• LSEG’s 1000 Companies to Inspire Europe 2017 report showcases 49 Information Technology companies from across Europe
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This content is contributed or sourced from third parties but has been subject to Finextra editorial review.

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