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Cybersecurity provider Avast Holding intends to float on London Stock Exchange in May

Headquartered in the Czech Republic, Avast is a security software provider with more than 435mln users worldwide, including more than 290mln personal computer software users

cybersecurity
In 2017, Avast's adjusted revenue was US$780mln and adjusted cash underlying earnings (EBITDA) was US$451mln

Avast Holding B.V, a leading global cybersecurity provider, has announced plans to float on the main market of the London Stock Exchange in early May.

As part of the offer, the firm - headquartered in the Czech Republic - intends to raise approximately US$200mln of primary proceeds and use it to reduce its overall indebtedness and drive its future growth.

Immediately following admission, the company intends to have a free float of at least 25% of its issued share capital, and it will be eligible for inclusion in the FTSE UK indices.

According to Reuters, the company could be valued at around US$4bn.

Varied products

Avast is a security software provider with more than 435mln users worldwide as at 31 December 2017, including more than 290mln personal computer software users, around six times more than the group's nearest competitor, and more than 145mln mobile users

The company offers products in two segments - consumer products and products for the small and medium business market. Avast said its products protect users’ security, privacy and improve device performance.

In 2017, the group’s adjusted revenue was US$780mln, adjusted billings was US$811mln and adjusted cash underlying earnings (EBITDA) was US$451mln.

Commenting on current trading and the 2018 outlook, Avast said: "The Group has performed in line with its expectations in the first three months of 2018. The Group continues to deliver attractive organic growth and outperform the market. As a result, the Group continues to expect high-single digit revenue growth at constant currency in 2018".

Vincent Steckler, CEO of Avast, said: “As a leading European tech company, a listing on the London Stock Exchange is a strategic and natural fit, providing us with wider access to the capital markets and supporting the future growth of our business in the years ahead.”

  

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