Avast’s $816.6 million Initial Public Offering

White & Case LLP has advised Avast, the leading global cybersecurity provider, on its US$816.6 million (£602 million) initial public offering

Avast has been admitted to the Premium Listing Segment of the Official List and the Main Market of the LSE. The US$816.6 million Offer size, priced at 250 pence per share, includes gross primary proceeds of around US$200 million and represents 25.3% of the shares in Avast. Its market capitalization at the commencement of conditional dealings is approximately US$3.231 billion (around £2.382 billion).

Avast is headquartered in Prague, Czech Republic and has offices in the USA, Germany, China, South Korea and Taiwan. It is the global leader in digital security products, with more than 435 million users worldwide. The company, led by Vincent Steckler and Phil Marshall, In 2017 recorded $714 Million Revenues with EBITDA at $353 Million (margin at 49.6%).

The White & Case team which advised on the transaction was co-led by partners Ian Bagshaw (Picture), Jonathan Parry and Jill Concannon (all London), and included partners Jan Andrusko (Prague), Guy Potel, Steven Worthington, Prabhu Narasimhan and Justin Wagstaff (all London), and London associates Lucy Bullock, Helen Levendi, Marissa Florio, Alexander Underwood, Kelley Trueman, Will Summers, Elena Ruggiu and Disha Chandrachud.

Involved fees earner: Ian Bagshaw – White & Case; Jonathan Parry – White & Case; Jill Concannon – White & Case; Jan Andruško – White & Case; Guy Potel – White & Case; Steven Worthington – White & Case; Lucy Bullock – White & Case; Marissa Florio – White & Case; Alexander Underwood – White & Case; Will Summers – White & Case; Prabhu Narasimhan – White & Case; Justin Wagstaff – White & Case; Helen Levendi – White & Case;

Law Firms: White & Case;

Clients: Avast Software;