Wise IPO tops growing list of London tech listings

Money transfer firm Wise’s blockbuster near-£8 billion flotation has broken records for the biggest ever tech listing on the London stock market.

The initial public offering (IPO) beats Deliveroo’s big, but disastrous listing in March, which saw the food delivery platform valued at more than £7 billion, before shares swiftly tanked.

With the UK traditionally having lagged behind the US as a destination for tech flotations, the growing number of recent London IPOs are seen as a welcome boost for London’s increasing status as a tech hub.

Already this year, the London stock market has welcomed Wise, Deliveroo, Cambridge-based cybersecurity firm Darktrace and chipmaker Alphawave IP to its ranks.

Technology and consumer internet listings accounted for more than 50% of total capital raised through IPOs in the first half of the year, according to the London Stock Exchange.

Here is a list of the top 10 biggest London tech IPOs by stock market value:

1. Wise – £7.96 billion – July 2021
2. Deliveroo – £7.18 billion – March 2021
3. THG Holdings (The Hut Group) – £5.4 billion – September 2020
4. Kaspi.kz JSC – £5.19 billion – October 2020
5. Worldpay Group – £4.8 billion – October 2015
6. Mail.ru Group – £3.36 billion – November 2010
7. AlphawaveIP Group – £2.73 billion – May 2021
8. Avast – £2.38 billion – May 2018
9. Auto Trader Group – £2.35 billion – March 2015
10. Network International Holdings – £2.18 billion – April 2019

Source: Dealogic