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Alfa Financial Software set for largest London IPO so far in 2017

Staff Writer | May 26, 2017
Alfa Financial, which provides software for the asset finance industry, said on Friday it has priced its June initial public offering at 325 pence per share, which would make it the biggest listing in London so far this year.
Alfa Financial Software
Public offer   A market capitalization of 975 million pounds
The company's pricing gives would give it a market capitalization of 975 million pounds, Alfa said in a statement.

Sources had previously said that the company, which counts Bank of America and Mercedes-Benz as customers and Old Mutual and Henderson as investors, was aiming for a valuation of at least 800 million pounds.

London-based Alfa, which made adjusted earnings before interest and tax of 32.8 million pounds in 2016, has said it hopes the listing will help it win market share by attracting new customers looking to replace legacy or in-house systems that have failed to keep up with evolving regulations.