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Alfa Financial completes ‘largest UK tech listing in almost two years’

Alfa Financial Software Holdings has completed the ‘largest tech listing in the UK in almost two years’, raising £254m.

The firm, valued at just under £1bn, first announced its intention to list in early May and has now also been credited with completing the biggest IPO in London so far this year.

Andrew Denton, chief executive of Alfa, spoke about the news, noting how joining the London Stock Exchange signified an important step for everyone at the company.

“We have built a business that is predicated not just on industry-leading technology, but also on a thorough understanding of our markets and deep relationships with blue-chip organisations across the globe.

“We have developed a strong platform from which we will continue to execute our proven growth strategy, and a public listing will be highly effective in supporting our ambitions. I would like to welcome our new shareholders who join us at this exciting stage in our growth.”

Nikhil Rathi, CEO of the London Stock Exchange, welcomed Alfa and commented on London’s prominence in the global technology arena: “Welcoming Alfa to our markets today confirms London’s position as a leading global listing venue, able to attract and support dynamic companies from across all sectors and highlights the exceptional investor appetite for fast growing tech companies.

“Working across the entire financing ecosystem, London Stock Exchange continues to ensure that the fastest growing and most innovative UK and international businesses have access to critical equity growth capital. This is essential for the companies that deliver jobs, innovation and economic development across the UK,” Rathi added.

The news comes after Edinburgh-based accounting software provider FreeAgent raised £10.7m on AIM in October last year.