This cyber security firm is planning a £2.8bn blockbuster London float

Purvai Dua

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Cyber security software firm Avast said today that it will apply to list its shares on the London Stock Exchange.

The blockbuster float— expected to occur in early May 2018— will see the firm raise $200m to pay down debt and another $800m for other purposes, including for executives to sell off shares.

These funds will be used to pay down company debt and drive future growth, Prague-based Avast, maker of the world’s most popular antivirus software, said in a statement.

“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 had first tried to float on Nasdaq in 2012, a bid that was aborted due to “tough market conditions”.

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