At least three tech companies are looking to float on the London stock exchange.
All three companies, including the computer designer Raspberry Pi and Quantum, a tech and cybersecurity company, as well as ClickASnap – a platform based in Dorset that helps amateurs make money – are working to list shares on London Stock Exchange.
Investment bankers in the City are becoming more optimistic about a revival of public listings. Fearing that they would not find attractive valuations, firms have held off on listing.
Two other companies — Air Astana from Kazakhstan and London Tunnels which plans to open and restore Second World War tunnels in the capital city — also announced last week that they would list their shares.
Raspberry Pi, a company that designs and manufactures computers to teach children how to code, hired Peel Hunt and Jefferies advisers in order to raise funds on the LSE. Cambridge-based designer Arm is a minority shareholder in the company. Arm disappointed the LSE when it chose to list its shares last year in New York. Raspberry Pi, which considered a US IPO before deciding to focus on the UK, will seek a valuation in excess of $500 million.
Quantum Group is another company that has a plan to reach the market. It hopes to have a valuation of more than £1 billion by early 2025, and to float. The company describes itself as an incubator for financial technology and cyber-security businesses. It is headed by Floyd Woodrow, the chief executive of the company, and Peter Malstrom. Malstrom stated Quantum, which is the owner of tech brands such as B2B expense management company Volopa and owns a number of other tech companies, will aim to sell 10% on the LSE. It also plans to seek a secondary listing in other countries, including the US, Sweden, or a Middle Eastern exchange.
ClickASnap is the third tech company looking to enter the market. It’s a photo-sharing platform based in Dorset that claims to have 5.4 million registered users. ClickASnap pays users when their photos get viewed by platform subscribers. Leander Capital has been appointed to investigate a possible floatation in the first half this year, at a value of £30million. Peter Hallett will be appointed as the company’s chairman. He was previously the chief executive officer of Revolution Beauty.
Constance Iron, a miner of iron ore who wants to develop areas in Western Australia and Queensland has appointed advisors ahead of an possible London IPO this year.