Anti-Virus Titan Avast Plans To Raise $1B In Tech IPO, U.K.'s Largest
Endpoint security technology developer Avast this week applied to list its shares on the London Stock Exchange in a move that's expected to value the company at around $4 billion.
The listing for the Prague, Czech Republic-based company, anticipated in May, is expected to raise $200 million in primary proceeds and $800 million in secondary sales. That would mark the largest-ever tech company initial public offering in the U.K.
The IPO proceeds will be used to fund the company's growth and pay down its debt. The move comes six years after Avast scrapped plans to list on the U.S. Nasdaq exchange, citing difficult market conditions.