Alphawave IPO Group has set a price range for its arranged 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 said on Thursday.
The Toronto-based company, which plans semiconductor innovation and afterward licenses it to different organizations, said it intends to raise funds of about 810 million pounds barring an over-allotment alternative. It will sell 360 million pounds in new offers and 450 million pounds of existing stock, focusing on a base free buoy of 25%.
Alphawave licenses its high speed data transmission innovation to chipmakers and gets a royalty on each chip produced, recreating a model spearheaded by Cambridge-based ARM.
