Alphawave slumps 21% on debut as London IPO market stutters again

Canadian semiconductor technology company Alphawave’s (AWE.L) shares plunged as much as 21% on their London market debut on Thursday, shrinking its value by more than 600 million pounds ($842 million) within hours.

The slump comes amid a broader tech stock selloff and only weeks after food delivery firm Deliveroo (ROO.L) fell as much as 30% on its debut, potentially hurting the London market’s ambitions to attract young fast-growing companies.

Toronto-based Alphawave had already compromised on pricing its initial public offering (IPO), selling shares worth 856 million pounds at the middle…

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