IG to offer trading in Alphawave shares
Electronic trading major IG is set to offer traders to take positions on Alphawave shares.
Alphawave, a Canadian firm that specialises in semiconductors, is set to list on the London Stock Exchange (LSE). The date of the listing is not scheduled yet, but it is expected to be at some point in May 2021.
IG clients will be able to trade Alphawave shares as soon as the company lists. Since it’s a UK initial public offering (IPO), traders will be able to take positions on the company’s shares straight away on the day of listing from 8am (UK time).
With IG, traders will use leveraged derivatives such as CFDs to go long or short on the Alphawave share price. When trading, they can open a position without owning the underlying shares. They can:
- ‘Buy’ (or go long) if they think that the Alphawave share price will rise
- ‘Sell’ (or go short) if they think that the Alphawave share price will fall
It’s important to remember that trading on leverage can increase both your profits and losses – so managing your risk is vital.
Alphawave is set to list on the main market of the London Stock Exchange (LSE), with the intention to raise approximately $500 million (USD) in its IPO. Although the company has not released specific information about the IPO date and share price as yet, it has said that it plans to offer new shares as well as existing ones – with a targeted valuation of around $4.5 billion (USD).
Barclays and JPMorgan are coordinating the listing, while BMO Capital Markets has been appointed as the bookmaker.
Alphawave was founded in 2017, but since then the company has become a market leader in its sector, with a global customer base. The company has been profitable since 2018 – its first full year of operation. Between 2019 and 2020, Alphawave’s year over year revenues increased by more than 200%.
Following a partnership announcement with Oxford-based Ensilica in March 2021, the company announced its intention to list in London. Alphawave also plans to set up its research and development headquarters in Cambridge.