May 6 (Reuters) - Alphawave IPO Group has set a price range
for its planned London listing of 375 pence to 430 pence per
share, putting it on course for a valuation of up to 3.2 billion
pounds ($4.45 billion), bookrunner JPMorgan said on Thursday.
The Toronto-based company, which designs semiconductor
technology and then licences it to other businesses, said it
plans to raise proceeds of up to 810 million pounds excluding an
over-allotment option. It will sell 360 million pounds in new
shares and 450 million pounds of existing stock, aiming for a
minimum free float of 25%.
Alphawave licences its high-speed data transmission
technology to chipmakers and receives a royalty on every chip
produced, replicating a model pioneered by Cambridge-based ARM.
($1 = 0.7191 pounds)
(Reporting by Rachel Armstrong; editing by John O'Donnell)