Canadian chip designer Alphawave expects shares to fall 19% at London IPO

London — Canadian chip designer Alphawave IP shares plunged 19% on Thursday morning's debut on the London Stock Exchange. Alphawave and its shareholders sold £ 856m ($ 1.2 billion) worth of shares for £ 4.10 per share, bringing market value to £ 3.1bn. The company sold £ 360m of new shares and existing shareholders sold about £ 469m worth of shares. About 28% of the business was listed.