Wise IPO tops growing list of London tech listings
The London stock market has already welcomed Wise, Deliveroo, cybersecurity firm Darktrace and chipmaker Alphawave IP to its ranks this year.
Money transfer firm Wise’s blockbuster near-£8 billion flotation has broken records for the biggest ever tech listing on the London stock market.
The initial public offering (IPO) beats Deliveroo’s big, but disastrous listing in March, which saw the food delivery platform valued at more than £7 billion, before shares swiftly tanked.
With the UK traditionally having lagged behind the US as a destination for tech flotations, the growing number of recent London IPOs are seen as a welcome boost for London’s increasing status as a tech hub.
Already this year, the London stock market has welcomed Wise, Deliveroo Cambridge-based cybersecurity firm Darktrace and chipmaker Alphawave IP to its ranks.
Technology and consumer internet listings accounted for more than 50% of total capital raised through IPOs in the first half of the year, according to the London Stock Exchange.
Here is a list of the top 10 biggest London tech IPOs by stock market value:
1. Wise – £7.96 billion – July 20212. Deliveroo – £7.18 billion – March 20213. THG Holdings (The Hut Group) – £5.4 billion – September 20204. Kaspi.kz JSC – £5.19 billion – October 20205. Worldpay Group – £4.8 billion – October 20156. Mail.ru Group – £3.36 billion – November 20107. AlphawaveIP Group – £2.73 billion – May 20218. Avast – £2.38 billion – May 20189. Auto Trader Group – £2.35 billion – March 201510. Network International Holdings – £2.18 billion – April 2019
Source: Dealogic