With a market capitalization of around $4 billion, Czech Republic headquartered Avast is aiming to a listing at the the London Stock Exchange in May 2018 where it expects to $200 million in primary proceeds.
On Thursday, cyber security software firm Avast stated it plans on applying to the London Stock Exchange to list its shares in what is expected to be a blockbuster initial public offering which will see the company valued at nearly $4 billion.
The LSE listing, likely to occur in early May this year, will see a free float of at least 25% of Avast’s issued share capital with the aim of raising around $200 million in primary proceeds.
Prague-based Avast, maker of the world’s most popular anti-virus software, said it will use these funds to repay debts and drive up future growth.
It has hired Rothschild to prepare for a listing at LSE, subject to market conditions.
“A listing on the London Stock Exchange is a natural fit, providing us wider access to capital markets and supporting the future growth of our business in the years ahead,” said Vincent Steckler, CEO of Avast.
Avast has a global user base and reported a turnover of $780 million in 2017.
UBS and Morgan Stanley have been jointly appointed global co-coordinators and lead book runners for the LSE listing.