Understand the value of IP with the LSE

Alfa to mark biggest float of the year

London-based Alfa Financial Software has announced plans to float on the London Stock Exchange, valuing the company at almost £1bn.

The listing would be the largest float on the London Stock Exchange since cyber security firm Sophos sold shares in a £1bn listing in 2015.

Alfa has priced its shares at 325p for an oversubscribed book, handing the firm a market value of £975m.

It expects to raise £254m on admission by offering 78 million shares, according to an official statement released today (26 May).

The move comes during a slowdown in UK IPO’s, with many businesses putting flotations on hold amid concerns over Brexit.

Executive chairman Andrew Page said: "This IPO represents a major landmark in the development of Alfa.  I am delighted to welcome our new shareholders to the register. 

“We have been thrilled with the level of support and interest we have had through this process from a wide range of blue-chip investors, and are looking forward to delivering further growth and success as a listed business."

Alfa has developed a software platform specifically designed for the asset finance market and counts the likes of Barclays, Mercedes and the Bank of America as clients.

Chief executive Andrew Denton said: "We believe that we have the right attributes to succeed as a listed business. 

“The asset finance market offers us many growth opportunities, and we are well placed to take advantage accordingly. 

“We have an enviable market position based on the strength of our market leading technology, our long-term customer relationships and our talented, hard-working teams around the world. 

“With a track record of strong returns, the successful IPO of Alfa will assist us in continuing the momentum of the business in the years ahead."

As well it's head office as London, the company also has offices in Munich, Paris, Stockholm, Warsaw, Sydney, Auckland, Detroit, Dallas and LA.