AV vendor Avast is set to launch the UK’s largest-ever tech IPO by listing on the London Stock Exchange with a £2.8 billion valuation.
Avast wants to raise $1 billion, Reuters claims, through a combination of primary and secondary sales.
Its IPO will raise at least 25 percent of Avast’s issued share capital with the target of raising around $200 million in initial returns. Secondary sales will raise $800 million and bring its valuation to around $4 billion.
This will eclipse competitor Sophos who made the UK’s largest ever IPO for a UK software company in 2015 when it floated on the London Stock Exchange with a valuation of $1.6 billion.
The listing could take place as early as next month. It will be the second IPO attempt for the firm since it’s 2012 bid to float on the Nasdaq which it abandoned due to “tough market conditions”.
The vendor claimed it had revenues of $780 million in 2017 and a headcount of 1,700 worldwide.
